From Home Furnishing Business
Fabric Suppliers Robert Allen, Duralee Announce Merger
Fabric suppliers Robert Allen and Duralee announced Friday they have merged and formed a new company called Robert Allen Duralee Group.
Veteran Duralee executive Lee Silberman has been named CEO of the new company, and senior leaders of Duralee and Robert Allen will comprise the management team, officials said.
"We are in an industry that is constantly evolving. By leveraging the rich history and resources of these two design industry leaders, we have created the opportunity to reshape and improve the client experience in luxury home décor," Silberman said.
"The combined product lines, multiple brands and expanded product categories create one of the most extensive offerings in the market and secure our position as a full service design resource. Our goal is to provide a complete product offering for today's design professional – and to do it with a service level that is the best in the industry."
Financial terms of the merger were not disclosed, but officials said the investment firm Altamont Capital Partners, which had been the owner of Robert Allen, will remain as a "financial partner" with Robert Allen Duralee Group.
"We look forward to supporting the management team in their pursuit of the many exciting growth and innovation opportunities this merger presents," said Steve Brownlie, managing director of Altamont.
The Robert Allen Duralee Group will be headquartered in Hauppauge, New York and will have locations worldwide.