Furniture manufacturer being purchased by Denver-based company
Published: October 2,2013
SENATOBIA — Furniture maker Chromcraft Revington Inc. is being sold for $3.45 million.
The company, which is based in West Lafayette, Ind., and has a factory in Senatobia, has agreed to merge with Denver-based apparel maker Sport-Haley Holdings.
Sport-Haley would pay $2.7 million when the deal closes. It would pay another $750,000 when Chromcraft’s plant in Delphi, Ind., is sold or mortgaged, or 180 days after the merger is complete, whichever is earlier.
The stockholders of Chromcraft, whose shares trade over the counter following their delisting from the former American Stock Exchange, must approve the deal. It’s expected to close before the end of the year.
Chromcraft’s managers attempted to buy the company earlier this year, but were unsuccessful.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Officials set hunting dates for birds; expands dove season by 20 days
- FLIPPING OUT — Flipping houses is popular in much of the country, but in Mississippi ...
- MBJ Special report: MDA numbers help with cities’ retail pitches
- REVVING UP — Motorcars of Jackson is preparing to open its first-ever showroom on I-55
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- COO of TL Wallace Construction keeps eye on revenue growth and profits
- RAISING AWARENESS — Lori Newcomb, family join fight against ovarian cancer
- Isle of Capri reports decreased in-state revenues; experiencing 'market pressures'
- DREAMS AND OYSTERS — Houstons set for August opening of Saltine in Fondren