Home / Knowledge / News / Textiles / EI Holdings acquires Polyester Fibres
EI Holdings acquires Polyester Fibres
03
Dec '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.

About Empire Investment Holdings:
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. Empire adheres to a well defined and focused acquisition strategy that is driven by the firm's history in acquiring, operating and managing over 40 corporate divestitures across several industries. Empire's approach is specialized in addressing the complexities of acquiring corporate divestitures, as well as ensuring post close business continuity.

About Polyester Fibers, LLC:
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. The company, comprised of 4 operating units; Tupelo Fibers, Cameo Fibers, Cumulus Fibres and Buffalo Batt, has more than 450 employees serving thousands of customers in the United States, Canada, and Europe.

Empire Investment Holdings

Must ReadView All

Courtesy: Ikea

Textiles | On 26th Apr 2017

Ikea’s product sourcing from India to double by 2020

Ikea, the global home furnishing giant from Sweden, plans to double...

Textiles | On 26th Apr 2017

CITA to add insufficiently available fabric in CAFTA-DR

The Committee for the Implementation of Textile Agreements (CITA) has ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silke Brand-Kirsch
Schlegel und Partner

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

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

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

news category


Related Categories:
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