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May 10, 2011 -
E. S. Kluft & Company, maker and distributor of the
Aireloom and Kluft brand mattresses, said today it
had signed a letter of intent with
Park Place Corporation to acquire its
86,000-square-foot manufacturing and distribution center
in Denver, PA, and retain approximately 40 employees.
Kluft will use the facility to service dealers in the
eastern and central portions of the United States.
The deal is expected to close in late May after which
the facility will be retrofitted for Kluft’s production
processes and training of employees will begin.
The plant, located in central Pennsylvania near
Lancaster, was originally built in the 1970’s. Park
Place purchased it in 2007 and has used it as a
satellite-manufacturing center from its main base in
Greenville, SC.
For Kluft, the acquisition of the Pennsylvania plant
will provide the delivery lead time needed to properly
service current and prospective customers in the eastern
portion of the country who until now were relying on
deliveries from its Southern California facility.
“Kluft and Aireloom brands are so unique in the
industry that there has been growing interest by
high-quality retailers who have wanted to carry the
brands but were hesitant to make a commitment because we
were only producing in California. This new facility
changes all that as we can very efficiently and
effectively service these accounts. It will open many
new retail doors for us,” said E. S. Kluft & Company
President and CEO Earl Kluft.
“As our brands continue to grow nationally, we needed
an eastern facility to reach new prospects more
effectively and to better service the growing needs of
our dealers there. The Pennsylvania plant is
strategically located next to major highways and has a
wonderful workforce steeped in a great culture of
producing quality bedding. We expect to complete our due
diligence over the next few weeks and close the
transaction quickly so we can begin production shortly,”
he added.
For Park Place Corporation, the sale realigns the
company’s manufacturing and distribution with the area
of responsibility under the license agreement signed
with King Koil Licensing Co. on August 1, 2010.
“We are very pleased that our Pennsylvania associates
will continue in the mattress making profession. Earl
Kluft is a quality and design leader with a long-term
commitment to the industry,” said Park Place
Corporations President Jimmy Orders.
Terms of the transaction were not disclosed.
In 2004, third-generation mattress maker Earl Kluft
founded E. S. Kluft & Company and created the next
hallmark of luxury bedding. Kluft’s Aireloom® designs
offer artisanal quality and legacy features such as
hand-tied coils and side-stitching. Kluft lines feature
the most advanced materials and technologies available
in the world, including the highest quality Belgian
jersey knits and damask fabrics, Ellison & Robbins
nested coils, New Zealand Joma wool, natural Talalay
latex, bio-based foams and natural, eco-friendly fibers.
Kluft is available in more than 350 select U.S.
retailers and internationally.
Park Place Corporation, founded in 1931 as Orders
Mattress Company, is headquartered in Greenville, SC, on
a 40-acre campus in a Century 2000, state-of-the-art
designed facility. Park Place manufactures mattresses
primarily under the Park Place, King Koil and
Comfortaire brands.
For more information, visit
www.parkplacecorp.com.
To learn more, visit
www.kluftmattress.com and
www.aireloom.com. |
