letter of intent acquisition

Glen Raven, a performance fabric provider, said today that it signed a letter of intent to acquire Sunbury Textile Mills, a decorative jacquard fabric designer and manufacturer.

Sunbury will become a subsidiary of Glen Raven and operate as part of Glen Raven Custom Fabrics LLC. The firm is well-known for its Sunbrella fabrics, which are designed and produced under an exclusive licensing partnership with Glen Raven.

Sunbury creates jacquard fabric patterns and constructions as well as bespoke collections for residential and contract applications, namely for the design community and luxury furniture manufacturers. The firm annually invests in new technologies, which include a CAD studio that features specialized simulation and software proficiencies. In Sunbury’s commitment to sustainability, it uses no water in manufacturing its fabrics; manufactures with 10 percent renewable energy; recycles 256 tons per year of yarn waste and cardboard, and recycles its customers’ used computers and monitors, among other initiatives.

Allen E. Gant Jr., the chairman and chief executive officer of Glen Raven, said “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.”

David Swers, the president and chief operating officer of Glen Raven Custom Fabrics, said, “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.”

Hank Truslow Jr., the chief executive officer of Sunbury Textile Mills, noted that, “Glen Raven is presenting Sunbury with an extraordinary opportunity to continue our growth path. We are looking forward to continuing to serve our customers with innovative solutions, superior design and unsurpassed levels of customer service as we’ve done for more than 60 years.”

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