Canadian firm buys local ops
Published 1:12 am Tuesday, December 6, 2011
Canada-based manufacturer buys some National Spinning operations
A Canadian manufacturer has bought part of National Spinning Co.’s Washington operations, it was announced Friday.
National Spinning has sold certain assets of Caron International to Spinrite L.P., the company announced in a news release sent to the Daily News. The sale includes yarns for hand-knitting and crocheting, latch-hook kits and the Ultimate Sweater Machine.
National Spinning is a leading manufacturer of synthetic and wool yarns with five operations in North Carolina.
“The combination of two such exceptional product lines will ensure the future success of the Caron products our customers rely on for quality and value,” said James W. Chesnutt, National Spinning president and chief executive officer, in the news release announcing the sale.
“The Simply Soft and One Pound brands are staple products in the hand-knitting and craft markets and will be outstanding additions to the extensive line of Spinrite’s branded products,” he said.
With headquarters listed in Listowel, Ontario, Sprinrite was established in 1952, primarily as a commercial and craft yarn manufacturing business, according to information provided by the company.
Its brands include Bernat Yarns, Lily Sugar’N Cream craft yarns and Patons yarns and patterns.
“We are thrilled to have the opportunity to continue the Caron tradition,” said Ryan Newell, president of Spinrite, in the news release. “National Spinning has done a tremendous job of building one of the most recognized craft yarn brands in North America.”
The Hampton Art division of National Spinning will continue to be owned and operated from its current location in Washington and will employ about 40 workers. Hampton Art manufactures products used in scrapbooks that are sold to retailers including Wal-Mart, Joann Fabrics, Michaels and A.C. Moore.