Natco Buys Mat-Maker Multy
December 8, 2008,
Natco Home Products has made its second acquisition in two months, this time buying indoor/outdoor floor mat and runner producer Multy Industries Inc.
A Canadian soft flooring supplier based in Concord, Ontario, Multy had been undergoing a reorganization over the past six months. Natco's asset purchase of Multy took place on Nov. 21.
The new company, now named Multy Home, has become a subsidiary of Natco Home Fashions. It maintains Multy's original offices, manufacturing and distribution sites in Canada, and continues to serve its North American retail customer base.
Derek Erdman, president of Multy Industries, holds the same title at Multy Home, as do the rest the company's Canada-based management team.
Natco Home now positions itself as "a total home fashions resource," offering woven, printed, and handmade rugs, carpet remnants, vinyl flooring, curtains, decorative pillows and mats, chair pads, tablecloths, kitchen accessories, shower curtains, furniture covers, throws, and bed coverings.
"Multy Home adds utilitarian flooring lines to our range of flooring products and provides an interesting business platform for all of our existing products in Canada," said Alan Ross, Natco Home Group's coo.