Glen Raven closes two acquisition deals
Glen Raven Inc., an Alamance County maker of industrial fabrics, has closed deals to acquire two fabric distributors.
The local company, which is privately held, did not disclose financial details of its acquisitions of John Boyle & Co. and The Astrup Co. The distributors will operate as fully-owned subsidiaries of Glen Raven.
Cleveland-based Astrup was founded in 1876 and specializes in fabrics used in awnings, signs and outdoor furniture. John Boyle has corporate offices in Statesville and operates 10 branches.
Glen Raven has created a merger team that will focus on ideas for new products and services. The company, which employs more than 400 people locally, markets brands including Sunbrella and Dickson.