First Brands Sells 12 Brands, Including Autolite, for $25 Million in Restructuring Move

First Brands has agreed to sell 12 of its brands, including the Autolite spark plug line, in a $25 million transaction. The deal follows a legal dispute involving the company's founder, Patrick James, who is contesting allegations of misappropriating funds linked to the firm's bankruptcy.

• First Brands sold 12 brands, including Autolite, for $25 million
• The transaction is part of a corporate restructuring effort
• Patrick James, founder, is involved in a legal dispute over misappropriation claims
• The lawsuit alleges predatory financing practices contributed to bankruptcy
• The sale does not affect major asset classes or broader markets
• Autolite remains a notable brand within the portfolio despite the sale