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Textile products maker Dan River to sell Apparel Fabrics Division

10 Aug '05

3 min read

Leading textile products manufacturer and marketer Dan River Inc announced that it plans to sell its Apparel Fabrics Division, allowing it to focus on its core Home Fashions business. The Company has retained Anderson LeNeave & Co of Charlotte, North Carolina to assist in identifying qualified purchasers.

"Dan River has a strong heritage in apparel fabrics but their future is in the Home Fashions arena," said Barry F. Shea, President and CEO. "This move will allow us to dedicate all of their resources to their Home Fashions business in which they see better growth opportunities for the future. This past January they sold their Engineered Products Division as an operating entity. They are seeking the same outcome for their Apparel Fabrics Division."

Jim Martin, President of the Apparel Fabrics Division, commented, "With their goal of joining forces with a new parent company that is primarily focused on the apparel business, the Division could reach its full potential which should be beneficial for the Division's employees and customers."

Dan River plans to retain the new No Trace hunting apparel business, which will not be included in the sale.

The Company expects to complete a transaction by the end of the year.

For more information about the Division, potential purchasers should contact either Greg LeNeave or Reed Paden of Anderson LeNeave & Co. at 704/552-9212.

It all began in 1882 in Danville, Virginia, then a townof some 7,500 inhabitants settled along the banks of the Dan River and on the hills above it. An unlikely group of six men banded together to organize a cotton mill. This infant company produced its first yarn and fabric in April 1883.

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