Faribault Woolen Mill Co. Acquired By Mooty Family
Faribault, Minn.-based Faribault Woolen Mill Co. — a vertically integrated manufacturer of woolen,
cashmere, Ingeo™ and other woven goods for the retail, hospitality and healthcare industries as
well as private-label manufacturing — has been purchased by former Dairy Queen International Inc.
CEO Chuck Mooty and his cousin and business partner Paul Mooty.
Established in 1865, Faribault Woolen Mill is Minnesota's oldest manufacturing company and at one time was the largest manufacturer of wool blankets in the United States. The Mootys have acquired the mill, which was shuttered in July 2009, with the hope of re-establishing viable production of wool products in the United States, and particularly Minnesota.
"This is a story about the revival of American excellence," said Chuck Mooty. "The art of manufacturing textiles should be retained by our country, particularly during a time when our economy is so challenged with unemployment."
Chuck Mooty will serve as president and CEO of Faribault Woolen Mill, and Paul Mooty will become CFO. Chuck Mooty's son, John Mooty, will head the company's marketing department, and additional family members are expected to take on other company responsibilities. The company also plans to add more employees, including former Faribault Woolen Mill workers.
Production at the mill is expected to resume in August. The Mootys are currently assembling their in-store and online retail services, and will market and sell product through hospitality, health care, government and specialty design channels.
"We have a challenge in front of us to make this company relevant and economically viable, but that is the beauty of this undertaking," Mooty said. "What a fun challenge to rejuvenate a community, a piece of history, a slice of a domestic industry and execute in a way which brings pride, employment and fulfillment back into the lives of so many."
July 19, 2011
Established in 1865, Faribault Woolen Mill is Minnesota's oldest manufacturing company and at one time was the largest manufacturer of wool blankets in the United States. The Mootys have acquired the mill, which was shuttered in July 2009, with the hope of re-establishing viable production of wool products in the United States, and particularly Minnesota.
"This is a story about the revival of American excellence," said Chuck Mooty. "The art of manufacturing textiles should be retained by our country, particularly during a time when our economy is so challenged with unemployment."
Chuck Mooty will serve as president and CEO of Faribault Woolen Mill, and Paul Mooty will become CFO. Chuck Mooty's son, John Mooty, will head the company's marketing department, and additional family members are expected to take on other company responsibilities. The company also plans to add more employees, including former Faribault Woolen Mill workers.
Production at the mill is expected to resume in August. The Mootys are currently assembling their in-store and online retail services, and will market and sell product through hospitality, health care, government and specialty design channels.
"We have a challenge in front of us to make this company relevant and economically viable, but that is the beauty of this undertaking," Mooty said. "What a fun challenge to rejuvenate a community, a piece of history, a slice of a domestic industry and execute in a way which brings pride, employment and fulfillment back into the lives of so many."
July 19, 2011
Advertisement