MIDRAND, South Africa - Julian Gelb, a well-known veteran of the home fabrics industry and managing director of wholesaler Home Fabrics, and other members of the company management have purchased the company from Daun & Cie for an undisclosed amount.

Daun & Cie is owned by Claus Daun, who has a long history of owning textile companies, including Home Fabrics which he has owned for about five years.

No further information about the recently concluded purchase was available from the new owners or from Daun who is notoriously tight-lipped about his activities.

Home Fabrics is an important fabric wholesaler operating in South Africa, well-known to many suppliers worldwide.