McAdenville-based Pharr Yarns one of leading manufacturers of differentiated carpet yarns and high performance yarns.announced that it has merged its customer Phenix Flooring, a maker of residential floor coverings based in Dalton, Ga. into the Pharr family of companies.
The family-owned textile firm â€“ which produces industrial-grade yarns used in protective apparel for firefighters and military personnel â€“ said the merger to be finalized in March, is part of Pharr's long-term strategy to grow through innovation, diversification and reinvestment in the communities it serves.
The Pharr-Phenix merger will provides a consistent distribution channel for their carpet yarns while continuing their partnership with other carpet manufacturers, both in the U.S. and abroad.
Pharr has been supplying yarn to the carpet industry since the 1950s, according to Bill Carstarphen, the companyâ€™s president, but the industry has experienced â€œa lot of consolidationâ€ over the past several decades as companies started making their own yarn and fiber.
They have had a wonderful relationship (with Phenix) for the last 10 years. For them to be merging nto Pharr is just a natural step in the evolution of their relationship,â€ Carstarphen said. They are very excited about this merger and think itâ€™s going to provide a bright future for the company and all of their employees as well.
Terms of the agreement were not disclosed, but Carstarphen said that the Phenix acquisition will add 380 employees to Pharrâ€™s workforce. Pharr employs 1,200 in Gaston County and in Clover, S.C. Phenix will continue operating in Dalton.
The 75-year-old Pharr Yarns is known for its community involvement, notably creating and orchestrating Christmas Town USA, a holiday light display in McAdenville that spans 2 miles and attracts thousands of tourists every year.
The Pharr-Phenix merger is Pharr's most recent effort to diversify into a family of companies that includes community development, real estate and hospitality. Through the years, Pharr has adapted to the cyclical changes in the textile industry by investing capital not only back into its textile operations with state of the art equipment, but also into the communities that were once home to many of Pharr Yarns' mills in North Carolina.
Pharr Yarns, which recently celebrated its 75th anniversary, began as a sales yarn manufacturing company in 1939. A closely-held family-owned enterprise, Pharr's yarn production expanded to include high performance yarns customized for makers of protective apparel used for industrial work wear, the fire services industry and the armed forces.
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