Glen Raven Acquires Two Business Partners

January 14, 2007  by in UnCategorized   

By Home Furnishings Business in Upholstery on January 2007 Glen Raven, a provider of performance fabrics for outdoor furniture and other applications, announced Friday that it plans to purchase two of its longtime business partners, the Astrup Company and John Boyle & Company. The companies are among the largest suppliers in the awning, marine and casual furniture industries, and both companies often use Glen Raven’s Sunbrella fabrics for those projects.

Officials at the company, which is based in Glen Raven, N.C., said the deals will create opportunities for growth. “Merging Glen Raven’s resources with those of Boyle and Astrup will create a stronger, more diversified organization that is capable of providing enhanced value throughout the entire supply chain,” said Glen Raven President Allen Gant Jr. “This strategic initiative will allow us to grow each of the markets we serve by working more directly with our customers.

He said Glen Raven has been a business partner of both Astrup and Boyle for more than 100 years. Glen Raven’s announcement Friday said the company has signed letters of intent to purchase both companies. The deals are subject to due diligence and board approval of both companies being acquired.