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.
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