The Wovens Division of Crown Crafts is believed to have the largest jacquard weaving capacity in the woven textile products industry and is a leader in the woven throw, bedspread and coverlet markets. Products in this division, which has annual sales of approximately $85 million, range from decorative pillows and wall tapestries to acrylic throws, cotton throws, boucle throws, chenille throws and matelasse bedspreads and coverlets.
Mohawk to buy the assets of Crown Crafts’ woven division
November 8, 2000
Mohawk Industries Inc. has signed a definitive agreement with Crown Crafts Inc. to acquire certain assets of its Wovens Division. Under the agreement, Mohawk will pay approximately $40 million in cash for substantially all of the fixed assets and inventory of this division. The acquisition is subject to certain customary conditions but is expected to close by the end of the fourth quarter of 2000.