P/Kaufmann obtains Clarence House
By Staff -- Home Textiles Today, 3/6/2002 12:00:00 AM
New York — P/Kaufmann Inc. has agreed in principal to acquire Clarence House, a leader in the high-end decorative fabric business.
"We are still finalizing the agreement and expect to finish in 30 days to 45 days," said Ron Kaufmann, president of P/Kaufmann, one of the big three decorative fabric converters, along with Richloom and Covington Inds.
Robin Roberts, founder and owner, "absolutely will stay on," Kaufmann emphasized. "He will continue to be responsible for the entire creative side of Clarence House — product development to advertising."
The P/Kaufmann involvement, Kaufmann explained, "will be to bring some financial and managerial support. We hope to greatly expand the company's potential. It's a very attractive business opportunity, and it arguably is the best brand in the business." Market estimates peg Clarence House volume at more than $60 million.
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