MIDRAND, S.A.--Home Fabrics, a converter and distributor of up market brands has purchased The Fabric Library for an undisclosed price from Courthiel Holdings.

The deal was inked the last week in July and happened very quickly, a source said.  Home Fabrics as well as The Fabric Library are well known mid to upper range converters and wholesalers in South Africa. The Fabric Library has been operating since 1965.

The two were competitors for years in the same market. Both were acquired in 2001 from the Waco Group by Wellington Group Holdings.  In February 2008, Home Fabrics itself was purchased by Julian Gelb, managing director of Home Fabrics, with other members of company management.  Julian is well-known in the industry. 

Today, Home Fabrics has five showrooms while Fabric Library has six.

Neither Julian Gelb nor Neill Strydom, managing director of Fabric Library could be reached for further comment.   After discussions, Home Fabrics purchased The Fabric Library, which offers both companies huge opportunities.