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Doris Lee opts to be move into Decorator's existing facilities
10 Dec '07
1 min read
Decorator Industries Inc announced it has acquired certain assets of Doris Lee Draperies (Doris Lee) for approximately $825,000 fortifying its position as the leading drapery and interior furnishing supplier to the manufactured housing industry.
The acquisition closed on November 30, 2007. The assets included inventory, accounts receivable and office furniture and equipment. Additional payments for the business may be made over the next five years depending on the sales to Doris Lee's existing customers.
Mr. Johnson, President, stated:
"During a sixty day transition period, Doris Lee's operations will be phased out and moved into Decorator's existing facilities where we already have the fixed costs in place.
The acquisition should increase Decorator's manufactured housing revenues by 33% and we expect the transaction to be highly accretive to earnings after the transition period."
Doris Lee Draperies Inc providing nationwide, fast, friendly, flexible services for all your contract sewing and fabric product assembly needs. As a woman-owned corporation, Doris Lee Draperies Inc started in 1968, providing the highest quality products to the mobile home industry.
The acquisition closed on November 30, 2007. The assets included inventory, accounts receivable and office furniture and equipment. Additional payments for the business may be made over the next five years depending on the sales to Doris Lee's existing customers.
Mr. Johnson, President, stated:
"During a sixty day transition period, Doris Lee's operations will be phased out and moved into Decorator's existing facilities where we already have the fixed costs in place.
The acquisition should increase Decorator's manufactured housing revenues by 33% and we expect the transaction to be highly accretive to earnings after the transition period."
Doris Lee Draperies Inc providing nationwide, fast, friendly, flexible services for all your contract sewing and fabric product assembly needs. As a woman-owned corporation, Doris Lee Draperies Inc started in 1968, providing the highest quality products to the mobile home industry.
Decorator Industries Inc
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