First Brands Completes Acquisition of Horizon Global

First Brands, parent company of FRAM, Raybestos, Autolite and other automotive brands, has completed its acquisition of Horizon Global, the companies announced.

First Brands completed the purchase at a price of $1.75 per share, the company said.

Horizon Global produces a variety of towing and hauling accessories through several brands, including Draw-Tite, Reese, Tekonsha and more.

As a result of the acquisition, Horizon Global is now a wholly-owned subsidiary of First Brands and Horizon Global’s common stock will be delisted from the New York Stock Exchange, the company said.