Home / Knowledge / News / Textiles / Empire Investment completes acquisition of Polyester Fibers
Empire Investment completes acquisition of Polyester Fibers
25
Nov '08
Empire Investment Holdings announced that its affiliate EIH Acquisitions, LLC has completed the acquisition of Polyester Fibers, LLC, a wholly-owned subsidiary of Leggett & Platt, Incorporated (“L&P”). Polyester Fibers, comprised of four operating units; Tupelo Fibers, Cumulus Fibres, Cameo Fibers and Buffalo Batt, is the largest manufacturer and distributor of value-added, high-loft nonwoven materials for the bedding, furniture, filtration, and retail marketplace. The terms of the transaction were not disclosed.

“Polyester Fibers has a rich history, and through several years of strategic acquisitions and organic growth, is the market leader within its core end markets,” said David F. Alfonso, chairman and chief executive officer of Empire Investment Holdings. “We are excited about the company's future, and the inherent ability to unlock additional value through Empire's proven operational expertise by working closely with the Fibers team, as well as its customers and vendors.”

“We appreciate Empire's thorough and flexible approach to this divestiture and believe they are the right acquirer for this business,” said David S. Haffner, president and chief executive officer of L&P.

Polyester Fibers has more than 450 employees serving thousands of customers in the United States, Canada, and Europe, with annual revenues of approximately $100 million. The acquisition includes over a million square feet of space comprised of the company's headquarters and administrative office, 9 manufacturing plants and 2 distribution centers located in New York, North Carolina, Ohio, Tennessee and Mississippi. It also holds strategic partnerships with 4 manufacturing plants located in China.

As an Empire company, Polyester Fibers will stay focused on providing the highest quality and innovation in non-woven fibers and unmatched customer service. The company will operate as 4 distinct operating units, led by its own management team. Management will announce additional details about its strategic plans, as well as launch its branding campaign during the initial transition period. With the addition of Polyester Fibers, Empire Investment Holdings portfolio is now comprised of 6 operating units, with close to 1,000 employees.

Empire Investment Holdings ("Empire") is a private investment firm focused exclusively on the acquisition and strategic management of non-core business units from the Global 2000.

Polyester Fibers is the largest and most flexible manufacturer and distributor of value-added, high-loft nonwoven materials for the bedding, furniture, filtration, craft, and seasonal markets in the United States.

Empire Investment Holdings

Must ReadView All

Textiles | On 25th Apr 2017

Greater Manchester is high on its textiles industry

Greater Manchester is witnessing a boom in textiles industry with 77...

Apparel/Garments | On 25th Apr 2017

Indian trade leaders to discuss GST, digital payments

Trade leaders from various Indian states will meet in New Delhi to...

Apparel/Garments | On 25th Apr 2017

Foreign buyers paying less for green factory apparel

International buyers are not paying enough for apparel and garments...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search