News Flash

Ruddick Corp signs agreement to acquire Robinson-Anton Textile Co

23 Aug '05

2 min read

Ruddick Corporation announced its sewing thread subsidiary, American & Efird Inc has signed an agreement to purchase certain assets of the thread and yarn business of Robison-Anton Textile Co and certain of its affiliated companies (Robison-Anton). The agreement is subject to various customary conditions to closing and is expected to be completed on August 29, 2005. Financial terms of the deal were not disclosed.

Robison-Anton, with sales of approximately $24 million in fiscal 2005, has been manufacturing quality embroidery thread and yarn since 1959. Robison- Anton employs 223 employees and has manufacturing and distribution facilities in Pennsylvania and New Jersey, as well as a service center in Los Angeles. A&E plans to operate Robison-Anton as separate divisions called "Robison- Anton Textile Company," which will be focused on expanding the embroidery thread business both in the U.S. and throughout the world.

A&E is a leading manufacturer and distributor of sewing thread for worldwide industrial and consumer markets, with sales of $296 million in fiscal 2004. This acquisition will further diversify A&E's product line offerings into more non-apparel thread markets.

Fred A. Jackson, President of A&E stated, "They are very excited about the opportunity this acquisition brings to A&E. Robison-Anton is a highly recognized global brand and has the reputation for producing high quality embroidery thread products, but has had limited distribution internationally. Combining A&E's global sales and distribution capabilities with Robison- Anton's branded products is a perfect fit for both companies." Jackson added, "They welcome the many trained and dedicated Robison-Anton employees that will join the A&E team."

More Ruddick Corporation News... More Apparel/Garments News - United States Of America...