The maker of some of our favorite performance wheels, BBS, has been sold to Belgian holding company Punch International. Though full details of the acquisition are yet to be finalized, some employees will be losing their jobs in an effort to turnaround the rim manufacturer’s poor financial results.

Back in February, BBS voluntarily entered an insolvency request following a loss of €3.8 million last year because of a sharp rise in the price of aluminum. This latest deal is regarded as a success by most of BBS’ 1,200 odd staff, who were notified today of the latest development.

Under the new deal with Punch, BBS subsidiaries in Italy and the US will remain independent, while a proposed project in China is still under negotiation. Either way, it’s good to see that there’ll be a continued supply of our favorite wheels. The trademark mesh pattern with deep dish lip in particular will always be on our wishlist.