Pacific Coast Feather, UF&D to merge
HTT Staff -- Home Textiles Today, 2/25/2011 10:54:35 AM
Seattle - Pacific Coast Feather Company and United Feather & Down (UF&D), both family-owned companies, announced a definitive merger agreement to create a $300 million basic bedding leader.
Pacific Coast Feather Company was the 8th largest home textiles supplier to the U.S. last year, with estimated sales of $289 million.
Eric Moen, president and ceo of Pacific Coast Feather Company, will retain his role for the combined entity. Brandon and Stephen Palmer will continue as co-presidents of UF&D in addition to their roles as senior executives of the combined entity.
"The two companies have rich histories in the industry and have considered combining forces many times over the years. Merging now allows us to accelerate our growth strategy and positions us to offer even greater value and service to our customers and partners," said Moen.
He said the deal will let the companies "create substantial value through access to new growth opportunities. At a particularly challenging time for the home textiles industry, this combination ensures our leadership role with our customers and partners for years to come."
The merged entity will be headquartered in Seattle and retain a presence in Chicago, where UF&D is located.
For the upcoming New York Home Fashions Market, each company will show from its own showroom. The company said it has no plans at this time to dissolve the UF&D brand.
PCFC and UF&D are active in both the American Down and Feather Council, and the International Down and Feather Bureau, with executives from both companies holding key positions in each organization.
Pacific Coast Feather Company was the 8th largest home textiles supply to the U.S. last year, with estimated sales of $289 million.
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