The Quebec holding company Duvaltex specializing in textile innovation and development has acquired specialty textile maker True Textiles Inc., which has a production facility in Guilford. The purchase combines True Textiles with the Quebec-based Victor Textiles, which Duvaltex said will make it the largest manufacturer of commercial or interior fabrics in the United States and Canada.
True Textiles, headquartered in Grand Rapids, Michigan, has locations in North Carolina, as well as a design and development office in New York City.
Both companies make fabrics used for office, institutional, health care and hospitality customers. Duvaltex expects the combination to benefit the Guildford business and Victor Textiles, with opportunities to create synergies and efficiencies across the organization.
Duvaltex plans to improve each operationâ€™s competitive positioning by leveraging the individual strengths of each business unit across the organization.
The acquisition includes all of the True Textiles business units, True, Guilford of Maine and Teknit. Duvaltex also currently owns Victor Textiles Inc., a leading North American textile manufacturer. As a result of this acquisition, Duvaltex becomes the largest manufacturer of commercial or contract interior fabrics in the U.S. and Canada.
This acquisition will provide significant value to the customers of both Victor Textiles and True Textiles, which will continue to operate as independent business units. The companies will maintain the same commitment to quality, emphasis on unique products, and focus on customer service that have made them industry leaders.
True Textiles is a leading textile mill providing high performance fabrics for applications such as panel, upholstery, acoustic and privacy curtains, to multiple market segments including corporate, healthcare, education, and hospitality. True Textiles is vertically integrated and has expertise in fabric design, yarn production, weaving, weft knitting, finishing and performance enhancements. The company offers an industry leading open line assortment through the Guilford of Maine collection, and unique weft knitted solutions through Teknit.
Victor Textiles is a leading North American-based textile company specializing in sustainable and innovative fabrics designed for the corporate, healthcare, apparel, and specialty markets. The company operates state-of-the-art mills in several Canadian locations, a design studio in New York City, and utilizes service-and-warehouse facilities in Grand Rapids, Michigan. Founded in 1947, family-owned Victor Textiles has a long history of servicing the North American textile and office furniture industries with environmentally responsible fabrics.
This acquisition brings together two of the industryâ€™s most established and successful companies, recognized for their dedication to innovative product design and commitment to sustainability, stated Alain Duval, president of Duvaltex Inc. The True Textiles brands are respected worldwide, and they are looking forward to continuing to maintain that reputation, while also exploring new opportunities for growth and diversification. They believe customers of all of the brands will see the benefits as they move forward to this exciting new chapter for both companies.
Duvaltex management expects the company as well as its customers to benefit from opportunities to create synergies and efficiencies across the organization. The company plans to improve each operationâ€™s competitive positioning by leveraging the individual strengths of each business unit across the organization.
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