Ruddick Corp completes acquisition of Robinson-Anton Textile Co
30 Aug '05
2 min read
Ruddick Corporation announced, pursuant to its previous announcement, that its sewing thread subsidiary, American & Efird Inc, completed the acquisition of certain assets of the thread and yarn business of Robison-Anton Textile Co. and certain of its affiliated companies (Robison-Anton). Financial terms of the deal were not disclosed.
Robison-Anton, with sales of approximately $24 million in fiscal 2005, has been manufacturing quality embroidery thread and yarn since 1959. Robison- Anton employs 223 employees and has manufacturing and distribution facilities in Pennsylvania and New Jersey, as well as a service center in Los Angeles. A&E plans to operate Robison-Anton as a separate division called "Robison- Anton Textile Company," which will be focused on expanding the embroidery thread business both in the U.S. and throughout the world.
A&E is a leading manufacturer and distributor of sewing thread for worldwide industrial and consumer markets, with sales of $296 million in fiscal 2004. This acquisition will further diversify A&E's product line offerings into more non-apparel thread markets.
Ruddick Corporation is a holding company with two primary operating subsidiaries: Harris Teeter Inc, a regional chain of supermarkets in six southeastern states and American & Efird Inc, a leading manufacturer and distributor of industrial sewing thread with global operations. Ruddick Corporation is also engage in textile and apparel market.
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