Glen Raven, a provider of performance fabrics, has signed a Letter of Intent to acquire Sunbury Textile Mills, a market leader in design and manufacture of decorative jacquard fabrics. Under the agreement, Sunbury will become a wholly owned subsidiary of Glen Raven and operate as part of Glen Raven Custom Fabrics best known as makers of Sunbrella fabrics.
?Sunbury has been a close strategic business partner for more than 20 years,? said Allen E Gant, Jr, chairman and CEO of Glen Raven in a press release by the company. ?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.?
?We have long considered Sunbury to be part of the extended Glen Raven family, and we are excited about working with them to further service all of their markets and customers,? Gant added.