GREENSBORO, N.C. — May 21, 2025 — Unifi Inc. (together with its consolidated subsidiaries, UNIFI), the maker of REPREVE® and an innovator in recycled and synthetic yarns, today announced the closing of the sale of its manufacturing facility in Madison, N.C., to a third-party buyer.
Transaction Highlights:
- Transaction valued at $45.0 million, with $25.0 million of net proceeds used to reduce the existing term loan and $18.3 million of net proceeds used to reduce outstanding revolving loans. Accordingly, on May 20, 2025, the term loan balance was reduced to $67.0 million and the revolving loan balance was reduced to $5.6 million, thereby reducing debt principal by approximately $43.3 million.
- With the facility closing driving higher expected utilization and more efficient operations in the Americas segment, UNIFI expects to realize over $20.0 million in estimated annualized operating cost savings once all transition and restructuring activities are completed.
“The sale of our Madison facility, and related exit of yarn manufacturing at that site, marks a significant step in transitioning our Americas business to improved profitability. As a result of this transaction, we paid down a meaningful portion of our existing debt and enhanced our overall financial position,” said Eddie Ingle, UNIFI CEO. “Beyond the improvement to the balance sheet, the relocation of the production capacity from the Madison facility to other locations in North and Central America will dramatically optimize our business and make UNIFI a leaner organization.”
Posted: May 27, 2025
Source: UNIFI, Inc.
