Harris-Teeter Parent to Acquire Textile Firm

CHARLOTTE, N.C. -- Ruddick Corporation, owner of the Harris-Teeter supermarket chain here, said yesterday its sewing thread subsidiary, American & Efird, Inc., has agreed to buy Robison-Anton Textile Co., a $24 million embroidery thread and yarn manufacturer. Financial terms of the deal were not disclosed.

The acquisition is expected to be completed by August 29, 2005.

A&E is a leading manufacturer and distributor of sewing thread for worldwide industrial and consumer markets, with sales of $296 million in fiscal 2004. This acquisition will further diversify A&E's product line offerings into more non-apparel thread markets, the company said.
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