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Mooty Family Acquires Faribault

Faribault Woolen Mill Co., Faribault, Minn., has been purchased by former Dairy Queen International Inc. CEO Chuck Mooty and his cousin and business partner, Paul Mooty. Founded in 1865, Faribault is Minnesota's oldest manufacturing company and at one time was the largest U.S. manufacturer of wool blankets. In acquiring the mill, which was shuttered in July 2009, the Mootys hope to re-establish viable production of wool products in the United States, and particularly in 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 mill workers.

Faribault will sell product through hospitality, health care, government and specialty design channels.

July/August 2011