Crown Crafts To Sell Churchill Weavers Assets

Crown Crafts Inc. — a Gonzales,
Louisiana-based distributor of infant bedding, bibs and bath items — has announced it will sell the
Churchill Weavers name; intellectual property; yarn inventory; looms; weaving, sewing and laundry
equipment; and domain name and website to Wilford Morris, owner of Lafayette, Ind.-based Walcot
Weavers, for $275,000. Walcot Weavers manufactures hand-woven baby blankets, throws and window
blinds.

“We are very pleased that we were able to purchase the Churchill brand, which will be
combined with Three Weavers and Grace Richey Clarke under the Walcot Weavers umbrella,” said
Wilford Morris. “We are excited to continue the long heritage of Churchill Weavers.”

A small share of Churchill Weavers archives and antiquities, as well as property in Berea,
Ky., were sold to another individual for $110,000.

These sales are in addition to the previous sale earlier this year of a large share of
Churchill Weavers’ finished goods inventory. Crown Crafts has received orders for the remainder of
the finished goods, with all Churchill Weavers products expected to be shipped by the end of this
month.



April 3, 2007
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