Portsmouth, RI – February 6, 2018 – Brand & Oppenheimer Co., Inc. (B&O), a leading textile converter, announced it has acquired the assets of General Fabrics Co. (General Fabrics), a leading wholesale designer, packager, and distributor of printed textiles. General Fabrics, founded in 1951, services a wide variety of markets, including quilting and crafting resellers. Praesidian Capital initially invested both first lien debt and equity in B&O, and has continued to support the company.
Run by Edward and David Odessa, General Fabrics has a longstanding reputation for quality within the quilting and craft resale markets. “We are very excited to join forces with B&O,” stated the Odessa’s. “We will continue to meet customer demands with quality products and outstanding service, and we look forward to a very successful future together.
“I am excited to acquire General Fabrics,” stated Ed Ricci, CEO of B&O. “B&O and I have worked with the Odessa’s for a long time, and General Fabrics’ business model fits well into B&O’s operations. The acquisition expands our product capabilities, complements our existing sales divisions, and advances our vision for strategic growth. I look forward to entering the print quilting and craft markets and streamlining the connections between B&O’s other sales divisions.”
“Since our initial investment, B&O has continued to provide premiere textile products and customer service,” said Jason Drattell, the founding partner of Praesidian. “We have been consistently impressed with the management team’s strategic vision and ability to drive growth. The acquisition will expand B&O’s product offering and customer base, and we anticipate continued growth in the coming years as management executes on their strategic vision.”
