SENATOBIA — Sport-Haley Holdings has completed its $3.45 million purchase of furniture maker Chromcraft Revington.
The company, which is based in West Lafayette, Ind., has a factory in Senatobia.
Apparel maker Sport-Haley of Denver paid $2.7 million, and has promised to pay another $750,000 when Chromcraft’s plant in Delphi, Ind., is sold or mortgaged, or 180 days after the merger is complete.
Sport-Haley Chairman and CEO Samuel Kidston says his company would announce restructuring plans for Chromcraft in coming weeks. Chromcraft Chairman and CEO Ronald Butler says the company’s brands will continue.
Chromcraft’s managers attempted to buy the company earlier this year, but were unsuccessful.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info