Southern Sales buys Meadowcraft assets
September 18, 2009-- Casual Living,
Mark Traylor, CEO of Southern Sales & Marketing Group, Inc., announced today the Atlanta-based company has acquired certain assets of Meadowcraft, Inc., the nation’s largest manufacturer of wrought iron outdoor furniture.
Purchased in the transaction were the real estate in Wadley, Ala., including manufacturing and warehousing space, state of the art manufacturing and powder coating equipment, various raw materials and finished goods, and the Meadowcraft trademarks and design patents. The Wadley plant will be owned and operated under the name of Wadley Holdings, LLC, a wholly owned subsidiary of Southern Sales & Marketing Group, Inc.
“This is a tremendous opportunity for Southern Sales,” Traylor said. “We have been the category leaders in just about every category of outdoor living products, except for outdoor furniture. This acquisition fills a hole in our line, and will take Southern to the next level. We can now completely outfit a consumer’s outdoor living space from furniture and umbrellas to planters, fountains, statuary and wind chimes.”
On March 20, an involuntary petition for reorganization under Chapter 11 bankruptcy was filed against Meadowcraft, Inc. On Sept. 14, a Sale Order was entered by the bankruptcy judge in the case, approving the sale.
Wadley Holdings, LLC plans to begin manufacturing and distributing Meadowcraft outdoor furniture. An ABC report said the company's business plan calls for about 150 jubs to return by Oct. 15, with an additional 50 to return during the first year of operation. By the third year, the plan calls for 400 workers.
“Meadowcraft furniture has been one of a select few outdoor furniture manufacturers that has a sterling reputation for high quality, well designed pieces,” Traylor said. “We plan to continue in that tradition, and to become the leader in this category as we have in so many others.”
Majority Shareholder of Southern Sales & Marketing Group Ken Harbaugh said he is also pleased with the purchase and with the support received from elected officials. “The state of Alabama, Randolph County and the city of Wadley officials have been behind us all the way, supporting us and providing information, help and guidance,” Harbaugh said. “We plan on being good corporate citizens for the state, county and city, and for the good people of Wadley.”
Related Content By Author
Live At Market: A New (Lane) Venture