Lifestyle Furnishings completes slimdown
Staff -- Home Textiles Today, 4/8/2002 12:00:00 AM
NEW YORK —
LifeStyle Furnishings International has completed the sale of its Sunbury fabric division and its Robert Allen Group business, part of the company's divestiture strategy announced earlier this year.
Decor Holdings, an affiliate of Corber Corp., has purchased the Robert Allen Group and its Canadian and United Kingdom affiliates — Robert Allen Fabrics (Canada) and Robert Allen Europe.
Ron and Jeff Cordover are the owners of Decor Holdings, while Ron Cordover is the owner of Corber Corp.
Ron Cordover, chairman and ceo of Decor, said "We are greatly pleased with the opportunity which this purchase affords. Jeff and I look forward to working with the strong executive team at Robert Allen to continue to serve our worldwide customer base for designer fabrics and home furnishings."
The Sunbury sale was a management buyout in conjunction with Long Point Capital. Hank Truslow Jr., president of Sunbury, said, "This is an exciting opportunity for Sunbury to take full advantage of its strengths and unique capabilities to serve its customers. We expect to exceed the expectations of our customers by continuing to provide them with the highest levels of service, quality and design in the years ahead."
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