Welspun acquires Portuguese bath specialist Sorema
By Staff -- Home Textiles Today, 12/20/2007 11:14:00 AM
Welspun confirmed to HTT that it had purchased a controlling stake in Sorema, which will provide Welspun with new retail accounts in Europe, the U.K. and Mexico as well as a high-end product line with a $4 million foothold in the U.S.
With its roots as a major terry supplier and a powerful base in bath towel production, the Sorema acquisition dovetails with the anticipated spring 2008 opening of Welspun's new bath rug plant in India, as the company builds out beyond its core offering.
It also tallies with the 2006 Welspun purchase of British terry producer Christy, which gave it a considerable step up in the better bath towel business in the U.K. and Europe.
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