Equity partnership: McKinnon to run Circa 1801, Doblin Fabrics
February 26, 2001,
TYNGSBORO, MA -Elkin McCallum, chairman of Joan Fabrics Corp., has structured a new equity partnership with Bob McKinnon for the management responsibility of both Circa 1801 and Doblin Fabrics.
John Lenox remains president of Circa 1801, the sales and marketing entity, and Margaret Coffin remains executive vp. Lenox, Coffin and McKinnon are equity partners in Circa 1801 and will direct the marketing and styling activities.
McKinnon becomes president and ceo of Doblin, a unit of Mastercraft as well as the operating company that manufactures Circa 1801 products. Lenox and Coffin will report to McKinnon, as will Bruce Allen, executive vp, and Bill Garner, operations vp, Doblin.
"With the acquisition of Circa 1801 it makes strategic sense to have someone with Bob's background and experience to run both operations," McCallum explained. "Bob had a strong desire to participate with me as an equity partner and this acquisition provides him a unique opportunity."
In July, 2000 McKinnon joined Joan Fabrics as president and coo. Joan is the parent company of Mastercraft Fabrics of which Doblin is a unit and also has been responsible for the sales of Joan Fabrics in the home furnishings markets. McCallum owns Joan Fabrics. He also is a 50 percent owner of Main Street Textiles. McCallum will take back the responsibilities as president of Joan Fabrics with Ray King, president of Mastercraft, reporting directly to him.
McCallum said "plans call for running Doblin and Circa 1801 on a standalone basis. The ownership of the two firms gives us the premiere position in high-end decorative fabrics."
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