Waverly seeks partner for home fashions expansion

-- Home Textiles Today, 12/16/2004 12:58:00 PM

NEW YORK —Waverly Lifestyles Group, a division of F. Schumacher & Co., is seeking a strategic partner to aid in the expansion of its Waverly Home Fashions business.

The company has retained the services of an investment bank to explore a possible sale and long-term licensing partnership with a range of domestic and foreign firms.

"This is not simply the sale of a division," said Raymond Chevallier, executive vice president, chief financial officer of F. Schumacher, Waverly’s parent company. "By converting this business to a license, we are looking for strong viable firms with whom we will be working for many years to come."

Said Dale Williams, president of the Waverly Lifestyle Group, "As we evaluate potential partners, we will be placing a high value on those firms that will be able to execute this transition without disrupting our current flow of business."

Waverly Lifestyle Group includes channel-specific programs at Target, Linens ’n Things, Lowe’s and JCPenney. The Lifestyle Group also sells some finished home furnishes in the fabric chain channel along with Waverly brand fabrics.