Natco purchases mat-maker Multy
November 26, 2008,
West Warwick, R.I. – Natco Home Products has made is second company acquisition in two months, this time with the purchase of Canadian indoor/outdoor floor mat and runner company Multy Industries Inc.
Multy, based in Concord, Ontario, was a major Canadian supplier of soft flooring pieces. Over the past six months, the company had been undergoing a restructuring and reorganization.
Natco’s asset purchase of Multy was approved by a Canadian court on November 13 and the sale was final 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 service the same North American retail customer base.
Derek Erdman, president of Multy Industries, holds the same title at Multy Home, as does the rest the company’s Canada-based management team.
With the acquisition, the Natco Home group of companies positions itself as, “a total home fashions resource,” the company said, 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, servicing a variety of distribution channels in the U.S. and Canada.
“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.
Multy also establishes for Natco a more significant presence in the Canadian market, he added.