Hyde Group Splits Into Two Businesses
Southbridge-based The Hyde Group Inc., which is a conglomerate of five separate businesses in the U.S. and Canada, has split up into two separate companies.
The Hyde Group was previously made up of: American Promotional Products of Charleston, S.C.; Dexter-Russell, a cutlery manufacturer in Southbridge; Hyde Investment Corp. of Southbridge; Hyde Tools of Southbridge; and A. Richard Tools of Quebec, Canada.
Hyde Tools and Richard Tools will remain under the Hyde Group umbrella and will be owned by the Clemence Family. Richard Clemence will remain CEO of Hyde Tools and Francois Panfili will remain CEO of Richard Tools.
The second newly formed business will be named the Affinity Group Inc. and will include Dexter-Russell and American Promotional Products. That company will be owned by the Hardy family. Alan Peppel will remain CEO of Dexter-Russell and Thomas Hardy will remain CEO of American Promotional Products.
The change was made effective June 25. There will be no changes to daily operations or executive management.
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