by NEW YORK, N.Y. — Home furnishings fabric resource Richloom announced is has acquired a majority of the machinery and equipment of Belmont, N.C.-based home textiles manufacturer Marlatex Weavers.
The companies did not reveal a purchase price or other terms of the transaction, but said that the deal will be completed by the end of the year.
Richloom Chief Operating Officer Michael Saivetz said that the purchase will allow the company to expand its domestic production capacity, which includes Richloom Weaving in High Point, formerly known as Chambers Fabrics.
“We are excited about the opportunity to further grow our production capacity at Richloom Weaving, further servicing our customer base,” Saivetz said in a statement. “The added equipment will ensure our growth targets, speed up future plans and allow us to weave more products in the USA.”
