Victor Innovatex Inc (Victor), of Saint-Georges, Quebec, Canada, has formed a joint venture with Gordon Brothers Group of Boston, MA, to acquire the majority of the assets of Quaker Fabric Inc of Fall River, MA. This includes owned real estate, machinery and equipment, inventory, and all of the company’s intellectual property, trademarks and design archive.
Victor expects to commence operations in Massachusetts in the fourth quarter of 2007 and intends to hire new management, textile designers and mill workers to support manufacturing operations.
This acquisition will build on the technical excellence of the company, combining design leadership, textured fabric capabilities, chenille and fancies expertise and advanced finishing technologies. This transaction will allow Victor to capitalize on their existing role as a leader in the high performance textile sector.
“This is about bringing value to our customers,” said Alain Duval, President and CEO of Victor. “This acquisition will allow Victor to deliver compelling solutions to the textile market by expanding our expertise in Contract textile design, lean production, on-time delivery, and consistent quality.”
Victor is a leader in developing, manufacturing and marketing environmental sustainable textiles. This expertise will enhance Victor’s ability to address environmental trends in the residential market, and will result in significant growth and diversification for the company in the Contract market.
With this acquisition, the company expects to become one of the largest producers of upholstery fabric in the world and a leader in the U.S. textile industry.
Victor will expand their yarn capabilities by producing specialty yarns exclusively for use in their own fabrics. The company will continue to serve most of the residential and Contract furniture industries in the United States, and sell its products throughout the world.
Victor expects to commence operations in Massachusetts in the fourth quarter of 2007 and intends to hire new management, textile designers and mill workers to support manufacturing operations.
This acquisition will build on the technical excellence of the company, combining design leadership, textured fabric capabilities, chenille and fancies expertise and advanced finishing technologies. This transaction will allow Victor to capitalize on their existing role as a leader in the high performance textile sector.
“This is about bringing value to our customers,” said Alain Duval, President and CEO of Victor. “This acquisition will allow Victor to deliver compelling solutions to the textile market by expanding our expertise in Contract textile design, lean production, on-time delivery, and consistent quality.”
Victor is a leader in developing, manufacturing and marketing environmental sustainable textiles. This expertise will enhance Victor’s ability to address environmental trends in the residential market, and will result in significant growth and diversification for the company in the Contract market.
With this acquisition, the company expects to become one of the largest producers of upholstery fabric in the world and a leader in the U.S. textile industry.
Victor will expand their yarn capabilities by producing specialty yarns exclusively for use in their own fabrics. The company will continue to serve most of the residential and Contract furniture industries in the United States, and sell its products throughout the world.
