MIDDLEBURY, Indiana -- After a week of industry reports, Cone Mills has confirmed its sale to Abercrombie Textiles. John Regan, president and CEO of Abercrombie Textiles confirmed that Cone Mills is no longer under the management of International Textile Group and that the transaction to place Cone Mills under the ownership of Abercrombie closed March 31. 

The sale includes the plant facility and its assets located in Cliffside, North Carolina as well as current inventories, all products and certain intellectual properties of the business. A purchase price for the Cone Jacquards LLC business unit was not disclosed.

“The addition of the Cone Jacquards product line brings an exciting new element to Abercrombie,” said Regan. “We look forward to exploring many opportunities across these businesses and enhancing the products and services available to our customers.  We are pleased to welcome the Cone Jacquards employees into the Abercrombie family.” 

Calls to Debra Lustig, who has been running Cone Mills for approximately two years, have not been returned. Chris Richard, operations officer for Cone was also unable to be reached.

"This was not a distress sell, which is nice," said an industry source who asked not to be identified.

International Textile Group is a global, diversified provider of textile solution for a variety of sectors including: performance and specialty apparel fabrics, advanced uniform fabrics, technical commercial fabrics, engineered automotive components and luxury interior furnishings. ITG’s business units include: Burlington Worldwide, Cone Denim, Safety Components, Cone Jacquards and Carlisle Finishing. It has approximately 9,000 employees worldwide with operations in the U.S., Mexico, China, Nicaragua and Vietnam.

"We believe this is a positive change for Cone Jacquards and will provide significant opportunity and support for the growth of the business," said Joseph L. Gorga, president & CEO of ITG. “Our employees have worked hard to improve the operations and bring an elevated styling and design that is recognized in the market.” 

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