Hyde announces reorganization

Succession plans prompt ownership changes.

The Hyde Group is reorganizing into two separate family-owned businesses – one led by the Clemence family and one by the Hardy family.

The Hyde Group, headed by the Clemence family, will maintain its ownership of Hyde Tools, Inc. of Southbridge, MA and A. Richard of Berthierville, Canada. The group will continue its 135-year market leadership in the North American hardware and industrial blade markets, and will build on the strength of the HYDE and Richard brands.

Cutlery manufacturer Dexter-Russell and American Promotional Products will become the Affinity Group and be directed and managed by the Hardy family. The Affinity Group will continue to focus on the professional cutlery market and advertising and promotional specialties.

This decision is being made as part of the families' succession and generational trust planning and will have no bearing on the companies' daily operations.