Dan River in $100 Million Starwood Deal
By Staff -- Home Textiles Today, 5/21/2007 12:00:00 AM
New York —
Baker Linen, the hospitality division of Dan River, said it has signed a $100 million contract with Starwood Hotels and Resorts Worldwide to supply home furnishings.
Delhi, India-based Dan River parent GHCL said in a statement to the Bombay stock exchange that the contract will cater to Starwood's North American locations, "and has potential to grow multi-fold by supplying to Starwood's global portfolio of hotels and resorts."
Dan River acquired Baker and its former parent, Best Manufacturing, earlier this year in a U.S. Bankruptcy Court auction. Dan River, with annual sales of about $250 million, has shut all of its U.S. production since its acquisition by GHCL, sourcing product from India and Asia.
Starwood Hotels and Resorts has 850 properties, featuring St. Regis, Sheraton, Westin, W, and Le Meridien.
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