P/Kaufmann obtains Clarence House
March 6, 2002,
New York — P/Kaufmann Inc. has agreed in principal to acquire Clarence House, a leader in the high-end decorative fabric business.
"We are still finalizing the agreement and expect to finish in 30 days to 45 days," said Ron Kaufmann, president of P/Kaufmann, one of the big three decorative fabric converters, along with Richloom and Covington Inds.
The P/Kaufmann involvement, Kaufmann explained, "will be to bring some financial and managerial support. We hope to greatly expand the company's potential. It's a very attractive business opportunity, and it arguably is the best brand in the business." Market estimates peg Clarence House volume at more than $60 million.
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