Linen management solutions provider Angelica Corporation announced that it has sold substantially all of the assets including real estate of its Long Beach, CA operations to American Textile Maintenance Company d/b/a Republic Master Chefs.
The sale, which was completed on December 19, 2005, includes assets associated with servicing only non-healthcare related customers. The divested operations represent a small portion of the Los Angeles market served by Angelica. Terms of the transaction were not disclosed. It is expected that the buyer will be offering employment to a substantial portion of the employees at the facility.
Commenting on the transaction, Steve O'Hara, Angelica's CEO said, "Long Beach was Angelica's last plant which was 100 percent non-healthcare and, as such, did not fit with long term strategy of being the leader in healthcare services."
"They're delighted that company could find a home for this plant's customers and most of its employees with a quality hospitality provider like Republic Master Chefs. Company will work with Republic to insure a smooth transition for customers and employees."
Angelica Corporation, traded on the New York Stock Exchange under the symbol AGL, is a leading provider of textile rental and linen management services to the U.S. healthcare market.
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