Monday August 11, 5:27 pm ET ) today announced the acquisition of the knitted mattress fabrics operation of Bodet & Horst USA, LP (“B&H”). This business will be operated by Culp Home Fashions, the mattress fabrics division of Culp, Inc. For the past six years, B&H has been the company’s primary source of knitted mattress fabric, a product category that has grown substantially in recent years for Culp’s mattress fabric business. Pursuant to the terms of the purchase agreement, Culp is acquiring B&H’s equipment, inventory and certain intellectual property. Culp will continue to manage the High Point manufacturing operation at the existing location with no production interruption or change in the day to day operations of the plant. The company is financing the purchase with a long term unsecured note with one of its current...
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