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Glen Raven signs LoI to acquire Sunbury Textile Mills
02
Aug '17
Glen Raven Inc, a global provider of performance fabrics, has signed a Letter of Intent (LoI) to acquire Sunbury Textile Mills, a market leader in the design and manufacture of decorative jacquard fabrics. Under the agreement, Sunbury will become a wholly owned subsidiary of Glen Raven and will operate as part of Glen Raven Custom Fabrics, LLC.

“Sunbury has been a close strategic business partner for more than 20 years. Sunbury’s leadership in serving the designer, decorative jobber and furniture manufacturers with premium jacquard fabrics is unparalleled. Every Sunbury customer is important to us and represents an opportunity to combine resources and be better suppliers and business partners,” said Allen E Gant, Jr, chairman and CEO of Glen Raven.

“We have long considered Sunbury to be part of the extended Glen Raven family, and we are excited about working with them to further service all of their markets and customers,” Gant added.

Sunbury’s team specialises in innovative decorative jacquard upholstery fabrics targeting the design community and luxury furniture manufacturers, for both residential and contract applications. Sunbury’s designers create bespoke collections, focusing on inspirational patterns, innovative constructions and leading colour trends. The company’s product lines include Sunbrella fabrics, which it designs and produces under an exclusive license with Glen Raven.

“The long-term partnership has greatly expanded our ability to service customers with high-design, high-durability Sunbrella fabrics, and we see even more potential in the talented team at Sunbury and all the markets they serve,” said David Swers, president and COO of Glen Raven Custom Fabrics, LLC.

“Glen Raven is presenting Sunbury with an extraordinary opportunity to continue our growth path,” said Hank Truslow Jr, CEO of Sunbury Textile Mills. “We are looking forward to continuing to serve our customers with innovative solutions, superior design and unsurpassed levels of customer service as we have done for more than 60 years.” (KD)

Fibre2Fashion News Desk – India


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