They were publishers of a range of retail products, including Hygrade packets, and beginning albums from majestic to either Paramount or Regent. Also had a massive wholesale operation. based in NYC.
There's currently an ebay listing for a Hygrade Stamp Album (paperback) that was published by Grossman Stamp Company in 1985, so we can at least date their products to that year:
My first stamp album is the United States Stamp Album (The Victory) by Grossman Stamp Co. Inc. New York 3, New York. The copyright is 1960 and marked includes supplements up to 1966. It was bought brand new in 1972 and I do not remember where I bought the updates from for years 1997-1972.
So I can officially say they were in business up to at least 1966. However I have seen items form them with dates that reach the mid 1980's.
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