Shop Vac died and was revived with a new moneyman (Great Star). Great Star has nothing to do with the company other than padding their portfolio, Shop Vac is still owned and run by Shop Vac.
Great Star also makes/supplies/imports the Hyper Tough brand of tools for Walmart and some cheaper off-brand hand tools and light power tools for Lowes and other hardware stores to sell at at lower price points than name brand, and that is all they do. The most you can expect is seeing some cheap shop vacs using Shop Vac molds being sold under local store brands, that's what I predict will happen. Shop Vac is both too small and too big to be absorbed completely and disappear.