Diversitex Acquires Kingsway Fabrics
Powell Slaughter -- Home Textiles Today, January 8, 2007
Fabric converter Diversitex has acquired Toronto-based Kingsway Fabrics. Deal terms were not disclosed.
The merger creates a full-service converter providing prints and solids, according to Bill Summers, president of Diversitex. He said home furnishings will account for about a third of the company's sales, and that he hopes to grow the category to more than half of sales.
Kingsway is a nine-year-old print house and fabric resource for home furnishings, outdoor products, draperies and pillows. Its design team will remain in Toronto, but its customer service department will merge with Diversitex's at company headquarters here.
Marc Bergman, a 20-year Diversitex employee, will head the home furnishings group of Diversitex/Kingsway. Catherine Shearson, who has been with Kingsway since its inception, will continue to oversee the division as president.
Fabric shipments will be consolidated at the Diversitex warehouse in Greenwood, S.C. Kingsway had leased a warehouse in South Carolina.
Diversitex, founded in 1970, became a converter of fabric for the military volume and uniform trades in 1980s and moved into home furnishings in 1990.