Fort Mill, SC, May 6--Springs Industries, Inc. announced today it has completed its acquisition of Charles D. Owen Manufacturing Co., Inc. The purchase joins the leading supplier of consumer blankets with the leading supplier of home furnishings products.
Crandall Bowles, chairman and chief executive officer of Springs, said, "Springs is delighted to have Owen Manufacturing and its employees join our business. They have been a terrific licensee to us previously, and we look forward to growing this part of our business with several of our top customers."
Owen employs approximately 700 people at a manufacturing facility in Swannanoa, N.C.
Charles D. Owen, III, will manage the blanket business for Springs and report to Tom O'Connor, executive vice president and head of sales and marketing for Springs. His father, Charles D. Owen, Jr., chairman and chief executive officer of the former company, will consult on an interim basis as the two organizations merge.
Terms of the purchase were not disclosed.
