Glen Raven, Inc Closes Acquisition of Sunbury Textile Mills
On October 02, 2017, In Industry News by Greg Thompson
Glen Raven, Inc., a global provider of performance fabrics, announced Monday that it has closed its acquisition of Sunbury Textile Mills, a market leader in the design and manufacture of decorative jacquard fabrics. Financial terms between the two privately held companies were not disclosed.
“Today is a milestone day in the history of both companies,” said Allen E. Gant, Jr., chairman and CEO of Glen Raven, Inc. “By combining resources, Glen Raven and Sunbury are poised to continue expanding the unparalleled level of service that customers of both companies have come to expect.”
Glen Raven and Sunbury have been strategic business partners for more than 20 years. With the acquisition complete, Sunbury is a wholly owned subsidiary of Glen Raven and operates as part of Glen Raven Custom Fabrics, LLC, best known as the makers of Sunbrella® fabrics.
“The long-term potential of this acquisition is one focused on providing exceptional business solutions for our customers,” said David Swers, president and chief operating officer of Glen Raven Custom Fabrics. “Inspiration is a hallmark at both companies, as evident in Sunbury product lines that include Sunbrella fabrics.”
Sunbury specializes 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 color trends.
Hank Truslow, Jr., who will remain CEO of Sunbury, described the acquisition as a “win-win” for Sunbury customers.
“Our partnership with Glen Raven has been built on decades of serving customers with innovate design solutions,” he said. “Our new relationship will only strengthen that commitment, including the endless possibilities for providing design inspirations that result in beautiful, innovative products.”
