LFI works on deal to sell Sunbury division
By Staff -- Home Textiles Today, 12/7/2001 12:00:00 AM
High Point, NC — LifeStyle Furnishings International (LFI) is negotiating to sell its Sunbury fabrics division to a group headed by current management.
LFI, one of the three largest home furnishings suppliers with holdings in furniture, fabrics and interior designer showroom, and 2000 revenues of $2.1 billion, has been selling various divisions since early this year.
Sunbury, a wovens fabric mill with sales of approximately $50 million, specializes in upscale wovens for the jobber, furniture, export, and manufactured products markets.
Its management is headed by Henry Truslow, chairman and ceo, and includes Hank Truslow, his son who is president and coo, and Rocco Simone, senior vp, among the senior management.
Sunbury was acquired by LFI in 1989. LFI also owns Robert Allen Fabrics, which includes Ametex and Beacon Hill Designer Showrooms.
The Sunbury transaction is expected to be completed in the first quarter of 2002.
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