Heritage House Buys Belle Fabrics

April 7, 2008

CONCORD, North Carolina—Heritage House Fabrics LLC has made its second acquisition since its founding in 2000 with the all-cash purchase of Belle Fabrics, originally a successful converter of prints and then an importer of jacquards from Italy, Belgium, India and China.

The exact purchase price was not disclosed by Tom Hilb, the principal and founder of Heritage. He indicated there would be more acquisitions in the future as a way to successfully grow in the market today.

"Belle has been known for innovative upper-end designs developed both by principal Jeff Haber and his customers," said Hilb. "Purchasing Belle gives us a continuation of our upper level fabrics in the marketplace without waiting for new product development."

The inventory of Belle has been moved to Heritage's warehouse in Concord, NC. At the same time, Hilb has announced the construction of a purpose built 50,000 square foot warehouse and 6,000 square foot office facility on six acres in Concord to house all of the businesses, namely: Heritage popular priced fabrics, ITC upholstery and drapery and Belle upper end upholsteries.

Hilb indicated that price increases from India of 18-20 percent has been passed onto his customers this year with China at 12 percent. The Belle collection is in the $13-$30 range with some fabrics from China at $7.

The deal was completed March 31. Jeff Haber, principal of Belle, will work for Heritage House as a consultant. Belle offices in Haledon, NJ have closed and the office and sales operation have been merged with Heritage's New York offices.

Fred Haber, Jeff's son will continue with Heritage House but only through a transition period. He expects to pursue other interests.

Heritage sells to jobbers, furniture manufacturers and large retailers, both in residential and a growing contract business. It imports product from Holland, Belgium, Turkey, Italy, India and China.


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