Joan CEO and others Reportedly in Talks to Acquire Texel
March 13, 2001
Mexico City – Texel upholstery division of Pliana Holdings here is in talks with prospective buyers according to industry sources.
The principals of Pliana Holdings, namely Shauna de Brun, refused comment on the possible sale of the company. However, several sources confirm that there have been discussions between Joan Fabrics CEO Elkin McCallum and Texel. Thus far, McCallum has refused to comment on this report except to call it "speculation." One Texel employee added that there are other parties interested in acquiring Texel.
Acquiring Texel would strengthen Joan's presence in the burgeoning Mexican market and put more pressure on U.S. mills – Culp and Quaker – who are already established here. Texel is a manufacturer of polypropylene upholstery in Mexico. Texel is considered to be the largest upholstery mill as well as the price leader in Mexico with an extensive library of designs. It is also the sister division to Polifil the polypropylene yarn producer with sales and marketing in the U.S.A. Texel and Polifil each have a plant in Tlaxcala near Puebla.
Texel sold part of its third plant in Tlaxcala, an automotive upholstery weaving plant, to Aunde about one year ago. Texel still does some commission weaving for Aunde of Germany.
Polifil is not part of the talks and it is believed that de Brun will continue to own and operate Polifil after the sale of Texel is completed, although she wouldn't comment. Polifil will continue producing yarn for Texel.
In 1978, Quaker Fabrics Corp. principals Larry Liebenow and Duncan Whitehead were part of Texel management before they sold Texel to an outside investment group. It is speculated that Quaker is also one of the interested parties this time around with Texel.
"Quaker has a significant investment in Mexico, including a warehouse with quick turnaround on open line goods," said an executive with Sabone, a Quaker upholstery customer here.
Meanwhile, McCallum is also said to be in talks with Collins & Aikman for the sale of Joan's automotive upholstery business including the money-losing Joan velvet operations. He also refused to comment on reports involving C&A.
Another rumor widely circulating in the U.S.A. has connected McCallum to the purchase of Valdese Weavers, in Valdese, NC. But Valdese owner Harley Shuford said that Valdese is not for sale.
Divisions and subsidiaries owned by McCallum and other partners, now include Joan, Main Street, Mastercraft, Doblin, Home and Circa 1801.Collectively, they represent the single largest producer of upholstery in the world.
The principals of Pliana Holdings, namely Shauna de Brun, refused comment on the possible sale of the company. However, several sources confirm that there have been discussions between Joan Fabrics CEO Elkin McCallum and Texel. Thus far, McCallum has refused to comment on this report except to call it "speculation." One Texel employee added that there are other parties interested in acquiring Texel.
Acquiring Texel would strengthen Joan's presence in the burgeoning Mexican market and put more pressure on U.S. mills – Culp and Quaker – who are already established here. Texel is a manufacturer of polypropylene upholstery in Mexico. Texel is considered to be the largest upholstery mill as well as the price leader in Mexico with an extensive library of designs. It is also the sister division to Polifil the polypropylene yarn producer with sales and marketing in the U.S.A. Texel and Polifil each have a plant in Tlaxcala near Puebla.
Texel sold part of its third plant in Tlaxcala, an automotive upholstery weaving plant, to Aunde about one year ago. Texel still does some commission weaving for Aunde of Germany.
Polifil is not part of the talks and it is believed that de Brun will continue to own and operate Polifil after the sale of Texel is completed, although she wouldn't comment. Polifil will continue producing yarn for Texel.
In 1978, Quaker Fabrics Corp. principals Larry Liebenow and Duncan Whitehead were part of Texel management before they sold Texel to an outside investment group. It is speculated that Quaker is also one of the interested parties this time around with Texel.
"Quaker has a significant investment in Mexico, including a warehouse with quick turnaround on open line goods," said an executive with Sabone, a Quaker upholstery customer here.
Meanwhile, McCallum is also said to be in talks with Collins & Aikman for the sale of Joan's automotive upholstery business including the money-losing Joan velvet operations. He also refused to comment on reports involving C&A.
Another rumor widely circulating in the U.S.A. has connected McCallum to the purchase of Valdese Weavers, in Valdese, NC. But Valdese owner Harley Shuford said that Valdese is not for sale.
Divisions and subsidiaries owned by McCallum and other partners, now include Joan, Main Street, Mastercraft, Doblin, Home and Circa 1801.Collectively, they represent the single largest producer of upholstery in the world.
