American & Efird Acquires Ludlow Textiles Assets
American & Efird Inc. (A & E), a Mount Holly, N.C.-based manufacturer of industrial and consumer sewing thread, has purchased certain assets of Ludlow, Mass.-based Ludlow Textiles Co. Inc.'s thread and specialty yarn business for an undisclosed purchase price.
Founded in 1868, Ludlow had sales in 2004 totaling approximately $13 million and employs more than 100 people. The sale of assets to A & E comes in conjunction with Ludlow's announcement that it will cease all operations over the next year. Operations acquired by A & E will be transitioned into its own manufacturing operations over the same period. "Our number-one priority is to support the many Ludlow customers that we will gain as a result of this transaction," said Fred A. Jackson, president, A & E. We will continue to offer the products they are currently buying and provide the customer services they require."
Ludlow's product line includes threads, yarns, cords, twines and tapes used primarily by non-apparel industries.