BACOVA GUILD ACQUIRES
LACEY MILLS ACCENTS RUGS
ROCKY MOUNT, VA - Bacova Guild, Ltd., has acquired the Lacey Mills bath and accent rug business. Bacova is a wholly-owned subsidiary of Ronile, Inc.
Lacey is a 63 year old producer of bath, kitchen and accent rugs sold in department and specialty stores. Lacey holds the license from Polo Ralph Lauren Corp. and Ralph Lauren Home Collection, Inc. to make bath rugs under the Lauren Ralph Lauren trademark. Lacey is a privately held company headquartered in Cartersville, GA.
Lacey's sale to Bacova was effective May 1, 2005.
"The Lacey business is a strong strategic fit to our existing businesses," said Charlie Bowers, president of Bacova. "It provides Bacova with a compelling market basket of products for retailers who are interested in fashion and product innovation. Our future gets brighter as we add to our structure businesses that work together and make us more important to the overall market. It is our intent to build on the tradition that Lacey fostered over many years.€VbCrLf
The acquisition is a continuation of Ronile's long term strategy to build on the Bacova brand platform with product categories that emphasize style, design and quality, according to Phillip C. Essig, chief executive officer of Ronile. "We believe that consumers desire beautiful, well-made products for their homes. We are here to meet that market need,€VbCrLf he said.
Bacova will continue to operate the Lacey manufacturing plant in Cartersville, GA. Products will be distributed products from a new state-of-art distribution center in Low Moor, VA,
Founded in 1957, Bacova is a producer and marketers of accent rugs, room size rugs, floor mats and bath ensembles.
Ronile, Inc., headquarted in Rocky Mount, VA, is a diversified textile and home furnishings company, with 1,400 employees and operations in Virginia, North Carolina, Georgia and New York.
Ronile, Inc., is also parent company of Gulistan Carpets and Rugs.