PORTSMOUTH, R.I. — February 8, 2018 — Brand & Oppenheimer Co. Inc. (B&O), a textile converter, announced its third acquisition since 2014 by acquiring the assets of General Fabrics Co. — a wholesale designer, packager, and distributor of printed textiles. Founded in 1951, General Fabrics services a wide variety of markets, notably quilting and crafting resellers. Terms of the deal were not disclosed.
General Fabrics has a longstanding reputation for quality within the quilting and craft resale markets. Their products are known for a breadth of designs from the 1800’s to contemporary urban graffiti offerings. All General Fabrics employees remain in place in their locations in Rhode Island, New York, and Texas.
“We are very excited to join forces with B&O,” stated Edward and David Odessa, members of the founding family. “We will continue to meet customer demands with quality products and outstanding service, and we look forward to a very successful future together.”
“We are excited to bring General Fabrics into the B&O family,” stated Ed Ricci, CEO of B&O. “B&O and I have worked with the Odessa’s for a long time, and General Fabrics’ business model fits well into B&O’s operations. The acquisition expands our product capabilities, complements our existing sales divisions, and advances our vision for strategic growth. We look forward to entering the print quilting and craft markets and streamlining the connections between B&O’s other sales divisions.”
B&O’s continued strategic growth has received enthusiastic support from Praesidian Capital, which initially invested both first lien debt and equity in B&O.
“Since our initial investment, B&O has continued to provide premiere textile products and customer service,” said Jason Drattell, the founding partner of Praesidian. “We have been consistently impressed with the management team’s strategic vision and ability to drive growth. The acquisition will expand B&O’s product offering and customer base, and we anticipate continued growth in the coming years as management executes on their strategic vision.”
Posted February 8, 2018
Source: Abernathy MacGregor