Valdese Acquires Circa/Doblin and Guild 360 From Joan Fabrics

June 27, 2007  by in UnCategorized   

By Home Furnishings Business in on June 2007 Valdese Weavers announced Wednesday the acquisition of the Circa/Doblin and Guild 360 Contract business units of Joan Fabrics.

The purchase is subject to the approval of the Bankruptcy Court of the District of Delaware, and successful closing, which is expected to be finalized in early July.

Circa/Doblin would operate as a separate business unit of Valdese Weavers, with a management team led by John Lenox, Margaret Coffin, and Bill Garner.

The Guild 360 Contract segment will become part of Valdese Weavers Contract, led by Blake Millinor, vice president, and his management team.

“We plan to fully leverage the assets of Circa/Doblin with our vertical operations at Valdese Weavers to enhance Circa/Doblin’s ability to supply fashion forward products with an absolute commitment to quality and service,” said Michael Shelton, president and CEO. “For Guild 360, our expectation is to solidify the service aspect of this business, and thereby re-establish the credibility of these products in the market place.”

Valdese Weavers designs, markets and manufactures textile products for the residential and contract markets.