The Hyde Group, whose subsidiaries include Hyde Tools and A. Richard Hyde, has reorganized into two separate family-owned businesses, the company announced.
“The decision is a natural step in the families’ generational trust planning and will have no bearing on the companies’ daily operations,” a spokeswoman said.
The Hyde Group, founded by Isaac P. Hyde and now headed by the Clemence family, will maintain its ownership of Hyde Tools Inc. of Southbridge, Mass., and A. Richard Hyde of Berthierville, Canada. The companies have served the North American hardware and industrial blade markets for 135 years.
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.
The changes were effective June 25.
Hyde Tools is a supplier of various surface-preparation and application tools, including scrapers, trowels, knives, and spray equipment.