ATC buys TFA
July 7, 2003-- Home Textiles Today,
New York — Associated Textile Converters (ATC), based here, and Textile Fabric Associates, Carlstadt, NJ, have reached an agreement for ATC to acquire a majority of TFA's assets, including its name, tradestyles and inventory.
ATC, the parent company of Swavelle/Mill Creek and Piermont Fabrics, intends to operate the acquisition as a standalone entity under the name Textile Fabric Associates LLC, according to Richard Hanfling, corporate vp, ATC.
Key personnel of TFA, including John Yuder, current president; Michael Day, current vp, design; Jana Burvikos, design director; and certain other employees will stay on under the new ownership. Yuder is the third generation of his family's ownership of TFA, which was started by his grandfather and continued under his father. It is anticipated that all sales representatives also will continue with the company.
The ownership of Ashford Court, a separate home fashions product supplier in bedding, decorative pillows and kids home fashions will remain status quo, Yuder stated. Yuder, his brother Andy, Day and Neil Zuber and Amy Bell are the principals of Ashford Court.
The closing of the transaction is expected on or before August 1, 2003.
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