1888 Mills acquires Beacon Looms
Home Textiles Today Staff -- Home Textiles Today, 10/19/2011 1:30:03 PM
Oakbrook, Ill. - Further expanding its product reach, 1888 Mills announced its acquisition of Beacon Looms, a family-owned developer and manufacturer of window treatments.
Terms of the transaction were not disclosed. 1888 Mills was the 14th largest home textiles supplier to the U.S. market in 2009, with total sales of about $240 million. The long-time towel manufacturer expanded into bedding previously and debuted a bedding and bath collection under license from HGTV celebrity David Bromstad during last month's New York Home Fashions Market.
"This is a great fit for 1888 Mills and Beacon," said Jonathan Simon, ceo of 1888 Mills. "We admire that Beacon has remained a family-run business and operates under values similar to ours. For us to integrate that excellence into our own growing, global operation is a win for both companies and especially for our customers."
Established in 1914, Beacon Looms holds over 100 patents on design and manufacturing of window curtains. "That expertise in window," said Fulton Allen, president of retail sales for 1888, "is what makes Beacon Looms an essential part of our retail strategy. With the addition of window to our existing product categories, we can truly be a whole home solution and leverage our scale continuing to be the low cost producer our customers expect."
In addition, the acquisition brings to the 1888 portfolio Beacon Looms' office in China. 1888 already has manufacturing in Pakistan, Bangladesh, Ghana and the USA.
"We know Beacon is in good hands," said Sy Sadinoff, former ceo of Beacon Looms. "From the beginning, we felt comfortable knowing our legacy of the past 97 years, as well as our dedication to our customers would be well preserved by 1888 Mills."
"We very much look forward to being part of the 1888 family and the tremendous opportunities this new venture brings to our customers." said Sandy McNeil, senior vp of sales and merchandising for Beacon Looms.
1888 will continue to market window treatments under the Beacon brand. McNeil and Jonathan Sadinoff will join the 1888 Mills along with several other Beacon associates.
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