Royal Heritage buys Bloomcraft from P/Kaufmann
September 8, 2008,
New York -- Royal Heritage Home has acquired the assets of the Bloomcraft Home Division of decorative fabric producer P/Kaufmann, Inc.
The companies have entered into a long-term royalty agreement and Bloomcraft will continue to use P/Kaufmann decorative fabrics in the development of upscale bedding ensembles, window treatments, and duvet covers. Jeffrey Tauber, ceo of Royal Heritage Home, said, “The key to Bloomcraft’s past and present success is the incredible breadth of designs that P/Kaufmann produces each and every season. Michael and I look forward to maximizing the potential of P/Kaufmann designs in the widest marketplace possible.”
Ronald Kaufmann, ceo of P/Kaufmann, said his company had begun to “concentrate our resources on the decorative fabrics business, which has traditionally been our most successful area. Our Bloomcraft Home division, which created ready-made bedding and window treatments for large retailers, no longer fit into this strategy.” He added, “Fortunately, the business we built with customers like Bed Bath & Beyond and JC Penney will continue under new ownership ... we wish Michael great success in this new phase in his career.”
Tauber noted, “Bloomcraft Home offers perfect synergies to Royal Heritage’s existing businesses including our bed sheet business and bath ensemble business. We began shipping Bloomcraft Home customers within 24 hours of the acquisition and expect no interruption of service to any of their customers.”
Kaplan agreed, “Royal Heritage is a natural fit for Bloomcraft Home as we evolve our business, enabling us to compete at a higher and more efficient level. At the same time, our close relationship with P/Kaufmann will continue. I am grateful to P/Kaufmann for all of the support they extended in order to complete this transaction with Jeff and myself. This is a win-win opportunity for all parties involved.”
Royal Heritage Home will be showing products in two showrooms during the Sept. 15-19 market week. Bloomcraft Home will continue to show at 2 Park Avenue, 11th Floor. Royal Heritage will continue to show sheets, bath ensembles and bedding ensembles at 295 Fifth Avenue, Room 1206.
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