16688 Mon, 08/03/2009 - 4:21pm
BOCA RATON, Fla.–Huntsman Gay Global Capital, a private equity firm, has purchased a stake in Hollander Home Fashions.
Jeff Hollander, executive chairman of the basic-bedding manufacturer, told HFN he could not disclose the amount of the investment or the size of the stake Huntsman Gay has acquired—or whether or not he is still the majority owner of the firm his grandfather, Bernard Hollander, founded in 1953. However, Hollander said he still has the final say in all decisions regarding the company.
The Huntsman Gay investment “gives me the opportunity to professionalize our growth,” Hollander said.
Initially, he said, Hollander Home Fashions will focus on organic growth through entries into expansions of existing product categories such as mattress pads and down bed pillows, and entries into new categories possibly through acquisitions.
In a joint statement from Hollander Home Fashions and Huntsman Gay, Greg Benson, managing director and co-founder of the equity firm, said the manufacturer is “an excellent investment” for Huntsman Gay because of its “strong position in the bedding industry, sound finances, exceptional management and its track record of outstanding performance over more than 55 years.”