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Management Team Acquires National Textiles

Management Team Acquires National TextilesMembers of the management team of National Textiles LLC, Winston-Salem, N.C., have acquired a majority interest in the company from its financial investors. Jerry Rowland, president and CEO, and Keith Huskins, chief administrative officer, are leading the new ownership group.The companys roots go back nearly 45 years to when it was part of Hanes Corp.s manufacturing operations. In 1979, Hanes was acquired by Consolidated Foods, which was renamed Sara Lee Corp. in 1985. National Textiles gained its independence in 1997, when Sara Lee spun off most of its textile manufacturing operations. Rowland and Huskins have been with the company since it was part of Sara Lee and have held their current positions at National Textiles since its creation.

Jerry Rowland (right) and Keith Huskins head National Textiles new ownership group.Employing more than 4,000 people in Georgia, North and South Carolina, Tennessee and Virginia, the company is one of the top US manufacturers of yarn and knit fabrics. It counts Sara Lee as its major customer, and also sells knit fabric and cut parts to cut-and-sew suppliers and companies such as Gap and Levi StraussandCo. According to Huskins, much of the downstream production for these companies takes place in the Caribbean Basin.With management as owners of the company, well have a more focused group, staying closer to our operations and our customers than have our financial investors in the past, Huskins said. We plan to continue to grow our share of non-Sara Lee business, while also continuing to service Sara Lee. July 2003