Monarch acquires Cypress
Home Textiles Today Staff -- Home Textiles Today, 7/25/2011 1:33:09 PM
Perth Amboy, N.J. - Hospitality supplier Monarch Robe & Towel Company has acquired its biggest rival, Cypress Luxury Bath & Bed Amenities, which had been owned by Russell Newman Brands.
The acquisition was finalized July 13 and includes all Cypress trademarks, products and inventory.
Gene Faul, ceo of Monarch's Hotel Division, and Karen Faul, president of the Hotel Division, founded Cypress in 1980 and ran the company for three decades until they joined Monarch last year.
"We are elated about this acquisition, which brings together two giants of the hotel towel and linen industry," Karen Faul says. "The total synergy of this acquisition is very exciting, and it will pay dividends for both companies, as well as our respective customer bases. We will begin servicing all Cypress accounts immediately, and we expect a very smooth transition of the Cypress brand and operations into the Monarch family."
"Both of these companies are very dear to our hearts, and to bring them under one roof will be a tremendous benefit to 4- and 5-star hotels worldwide," Gene Faul says. "Cypress and Monarch share a commitment to quality products and outstanding customer service, and that will only improve as they combine their immense resources and talent."
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