Springs augments sourcing with Ultima deal
April 5, 2002,
Fort Mill, SC — Springs Industries has acquired a major aspect of Ultima Enterprises, the business which sources quilts and other related home textiles from Asia, in an effort to bolster its sourcing capabilities.
Although Ultima is formally based in New Jersey, according to Ted Matthews, vp, corporate communications for Springs, the factory and approximately 20 employees joining Springs are based in Shanghai, China.
The acquisition also erases Ultima from the home textiles picture as quilts had been one of the major aspects of the company.