Dan River signs $100 million Starwood deal
Thomas Russell -- Furniture Today, May 8, 2007
New York -- Baker Linen, the hospitality division of Dan River Inc., has signed a multi-year, $100 million contract with Starwood Hotels and Resorts Worldwide to supply the chain with home furnishings products, the textiles company announced.
GHCL, the Delhi, India-based parent of Dan River and Baker, said in a statement to the Bombay, India, stock exchange that the contract will cater to Starwood's North American hotels and resorts, "and has potential to grow multi-fold by supplying to Starwood's global portfolio of hotels and resorts."
Dan River acquired both Baker Linen and its former parent, Best Manufacturing Group, earlier this year in a U.S. Bankruptcy Court auction.
Dan River, with annual sales in the range of $250 million, has shuttered all of its U.S. production since its acquisition by GHCL, sourcing product from India and Asia.
Starwood Hotels and Resorts, with about 850 properties in more than 95 nations, such names as St. Regis, Sheraton, Westin, W, and Le Meridien includes among its brand portfolio.
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