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STANDARD TEXTILE ACQUIRES MASCIONI

Standard Textile Co. Inc. has reached an agreement to acquire the global hospitality business of Mascioni SPA, Italy, including the Mascioni Hotel Collection brand.

The Mascioni Hotel Collection brand markets bed, bath, table and spa products to luxury hotel properties worldwide. The acquisition of the Mascioni global hospitality business advances Standard Textile’s strategy of expanding its leadership position in the hospitality market globally and positions the company for future growth.

Standard Textile President/CEO Gary Heiman, said, “The Mascioni Hotel Collection brand embodies the notable craftsmanship and innovative artistry of Mascioni, one of Italy’s leading textile design and finishing manufacturers. The Mascioni Hotel Collection broadens our brand portfolio to satisfy the characteristics and values of today’s luxury hotel customer.”

Francesco Russo, CEO of Mascioni, added, “Since Mascioni’s founding in 1957, the company has gained a strong worldwide reputation for creating luxury quality linens. We believe Standard Textile’s strong distribution network in North America and globally will accelerate the growth of the Mascioni hospitality business and the Mascioni Hotel Collection brand.”

Standard Textile indicated there will be a design and supply agreement with Mascioni SPA to provide the company an opportunity to manufacture products through Mascioni in Italy along with Standard Textile’s global manufacturing infrastructure.

“This partnership and complete control of our entire supply chain allows us to innovate at each stage of the process, ensuring consistency in superior quality and service,” said Heiman. “The Mascioni Hotel Collection offers luxury properties the distinguished products desired by guests, supported by a robust global manufacturing and distribution network.”

Heiman noted the Mascioni Hotel Collection will continue to operate as an independent brand with headquarters in Cincinnati. The transaction is expected to close in November.

Standard Textile has also executed a license agreement with Mascioni SPA that provides Standard Textile the exclusive right to manufacture, market and sell Mascioni branded products in the U.S. consumer market.