HFI picks up pieces of Westgate and Payne
March 18, 2004,
NEW YORK — Home Furnishings International Inc. has acquired the assets of Westgate Fabrics and Payne Fabrics of Grand Prairie, Texas.
Home Furnishings International is the parent company of American Decorative Fabrics (ADF), ADF Canada, Home Fashions International and Home Fashions International Europe. David Li is CEO of Home Furnishings International and ADF.
"We saw the purchase of Westgate and Payne as an opportunity to enhance our distribution," explained Gary Stein, chief operating officer of ADF. Stein noted that the companies "were in a sales decline, and we are looking to increase the sales, promote Westgate as a brand and maintain the price integrity of Westgate and Payne. We will bring the rejuvenation of an established brand with our financial resources and greater management depth."
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