The high-end fabrics company Kravet Inc., of Bethpage, has been approved as the buyer of a bankrupt former rival, home furnishings maker Brunschwig & Fils. The purchase had been subject to the approval of a bankruptcy judge.
Clients of Brunschwig, based in Manhattan, include designers Bunny Williams, Mario Buatta, Juan Montoya and Scott Sanders. The new acquisition is an "internationally respected luxury home furnishings distributor and designer,” Kravet said.
"Over its 111 year history, Brunschwig & Fils has dressed rooms in the White House, palaces (including Versailles) and museums (including Metropolitan Museum of Art) and the private homes of style-setters and homemakers," Kravet said.
Terms of the deal, which should close by the end of the month, were not disclosed.
The two companies said they "are working together to ensure a smooth transition of ownership and to provide seamless service to their clients."
"Kravet Inc., the fourth generation family run global leader in home furnishings, will commence operating one of the world's most esteemed home fabric and product companies," the company said.
Kravet also owns the brands Lee Jofa and GP&J Baker.