Wynnefield Partners ups stake in Crown Crafts

Gonzales, LA — A New York-based private investment group, Wynnefield Partners, has boosted its stake in Crown Crafts Inc., an infant's and juvenile products producer, to 7.8 percent, with a holding of 732,535 shares of the company's common stock.

"This is real good news for us," said Randall Chestnut, Crown Crafts' chairman, president and ceo. "They first bought into Crown about three years ago, and they've been good friends ever since. This should send out a real strong signal about how they feel about the company and its prospects."

Chestnut characterized Wynnefield Partners as "passive, friendly advisors and good friends of the company. They came to us about three years ago, but they always kept their holdings under 5 percent. Recently they bought some more stock, and they own almost 8 percent. They're one of our largest shareholders now."

Wynnefield, said Chestnut, "stuck with the company through its restructuring and transition, and it's a very friendly stake. So this is very good news for Crown Crafts."

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!