Business Services Industry
Group Buys Majority Ownership in National Textiles LLC.
Knight Ridder/Tribune Business News, June, 2003
By Richard Craver, Winston-Salem Journal, N.C. Knight Ridder/Tribune Business News
Jun. 9--A management group has purchased majority ownership in National Textiles LLC from the Granoff family.
National Textiles is a private yarn and fabric manufacturer based in Winston-Salem.
Jerry Rowland, the company's president and chief executive, and Keith Huskins, the chief administrative officer, will lead the management group. Terms of the acquisition were not disclosed.
"The decision was made for the management team to acquire ownership because Martin Granoff had decided he was ready to sell," Rowland said.
Granoff became the majority owner of National Textiles in January 1998 when Sara Lee Corp. sold nine of its 13 yarn and...
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