Interface buys Berkshire looms
Susan M. Andrews -- Furniture Today, July 2, 2007
Grand Rapids, Mich. — InterfaceFabric has acquired Richloom Fabrics Group's Berkshire Weaving looms, which will substantially increase InterfaceFabric's weaving capacity and allow the company to expand into other market segments.
Terms were not disclosed.
InterfaceFabric will operate the 42 air-jet looms in their existing location in Lancaster, S.C., which is owned by Richloom.
InterfaceFabric serves mainly contract and designer markets, although Chris Richard, president and CEO, said the acquisition of additional capacity and weaving technology will allow the company to "expand into other market segments."
Jim Richman, president and CEO of Richloom, said the company is "extremely proud" of the deal. "We were able to divest these assets while retaining intact both the labor force and equipment in a manner that allows the Lancaster operation to continue producing quality domestic fabrics."
Richman said that sales and service of Richloom fabrics, sourced globally, will continue through Richloom Shanghai Trading Co., the cornerstone of the company's expanding global operation, which he said is "expected to double in size with the next three years."
InterfaceFabric was recently acquired by an affiliate of Sun Capital Partners, a private investment firm with a number of holdings in the furniture industry.
