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Canadian company acquires textile maker
A local textile maker has been acquired by a Canadian holding company.
Duvaltex of Québec City, Canada announced this week that it has acquired True Textiles of Grand Rapids.
The acquisition includes all of True Textiles’ business units, True, Guilford of Main and Teknit.
Terms of the deal were not disclosed.
Duvaltex specializes in textile innovation and development. The company owns Victor Textiles, a North American textile manufacturer.
As a result of the acquisition, Duvaltex said it is now the largest manufacturer of commercial and contract interior fabrics in the U.S. and Canada.
Victor Textiles and True Textiles will continue to operate as independent business units.
True Textiles is a textile mill providing high-performance fabrics for applications such as panel, upholstery, acoustic and privacy curtains to multiple industries, including office furniture, health care, education and hospitality.
It has expertise in fabric design, yarn production, weaving, weft knitting, finishing and performance enhancements.
The company offers an open-line assortment through Guilford of Maine and weft-knitted solutions through Teknit.
Victor Textiles, founded in 1947, serves the office furniture, health care, apparel and specialty markets.
The company operates modern mills in several Canadian locations, a design studio in New York and utilizes service and warehouse facilities in Grand Rapids.
"This acquisition brings together two of the industry's most established and successful companies, recognized for their dedication to innovative product design and commitment to sustainability," said Alain Duval, president, Duvaltex.
It promised the companies will maintain the same commitment to quality, emphasis on unique products and focus on customer service.
Duvaltex management expects the company and its customers to benefit from opportunities to create synergies and efficiencies across the organization.
It plans to improve each operation's competitive positioning by leveraging the individual strengths of each business unit across the organization.
Duval said the company is looking forward to exploring new opportunities for growth and diversification.
“We believe customers of all of the brands will see the benefits as we move forward to this exciting new chapter for both companies,” Duval said.