Photo by Annie Spratt on Unsplash
New York – It’s been 13 years since any single supplier did $1 billion in wholesale business in the U.S. market. That changed in 2021.
The last one to do so was Springs Global, which in the early 2000’s was the largest U.S. home textiles mill. By 2008, it had become the pared-down U.S. subsidiary of Brazilian powerhouse Coteminas. Springs’ $1.1 billion in sales that year included some U.S. production as well as a great deal of sourced business.
So perhaps it is fitting that the first supplier to climb back into the Billion Dollar League is Keeco, which acquired the Springs North America business from the Brazilian mill in early 2019 for $90 million in cash. That deal followed Keeco’s 2018 purchase via private transaction of Ellery Homestyles, a major window vendor as well as fashion bedding and throws developer.
As ranked in HTT’s recently published Top Suppliers Report for 2021, Keeco was one of six home textiles manufacturers to grow by double-digits this year.
The biggest jump took place at Hollander Sleep and Décor, with 2021 sales up 35%. The North American utility bedding manufacturer broadened its portfolio with the acquisition of SureFit and its Protect-A-Bed subsidiary earlier this year.
Other key takeaways from this year’s ranking include:
The full report appears in HTT’s new Business Annual edition, which is in the mail to print subscribers. Non-subscribers can purchase a digital version of the full issue or opt for the Top Supplier’s Report itself at HTT’s online Research Store.
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