Glen Raven to Buy Two Distributors

Glen Raven, N.C. — Performance fabric supplier Glen Raven said it has signed letters of intent to acquire two distribution firms, The Astrup Company and John Boyle & Company.

Allen Gant, Jr., president of Glen Raven, said, "Merging Glen Raven's resources with those of Boyle and Astrup will create a stronger, more diversified organization that is capable of providing enhanced value throughout the entire supply chain."

Astrup and Boyle are among the nation's largest distributors of fabrics, hardware, and finishing supplies for the awning, marine, and casual furniture industries. Each already carries Glen Raven product lines, including the Sunbrella line.

All three companies trace their origins to the 1800s.

Astrup chairman and ceo John Kirk and Boyle chairman John Boyle Bell Jr. each expressed a high comfort level with the acquisition.