15172 Mon, 09/08/2008 - 11:17am
NEW YORK–Royal Heritage Home said it will purchase the assets of the Bloomcraft Home division from P/Kaufmann Inc.
As part of the deal, Royal Heritage has also entered into a long-term royalty agreement with P/Kaufmann to continue to use the latter’s decorative fabrics to produce upscale bed ensembles, window treatments and duvet covers under the Bloomcraft name. Royal Heritage will also keep Bloomcraft Home’s key employees—Michael Kaplan, president, and Krista Hartman, vice president of design and product development—in those positions. Other terms of the deal were not disclosed in a statement issued by Royal Heritage.
Kaplan and Jeff Tauber, chief executive officer of Royal Heritage, both noted the synergies between Royal Heritage and Bloomcraft Home, especially with the former’s sheet and bath-ensembles business. Tauber also said the royalty agreement with P/Kaufmann offers “the incredible breadth of designs” from that company to enhance the Royal Heritage/Bloomcraft product line.
Ronald Kaufmann, chief executive officer of P/Kaufmann, said the company had begun concentrating its resources on its decorative-fabric business, and that Bloomcraft Home “no longer fit this strategy.”
During next week’s New York Home Fashions Market, Royal Heritage will show products in two showrooms—its own at 295 Fifth Ave. here, and at Bloomcraft Home’s show space at 2 Park Ave. here.