Paul Weiss Stitches Up KPS Capital's $180M Thread Co. Buy

Law360, New York (October 28, 2011, 12:01 PM EDT) -- Holding company Ruddick Corp. will sell its American & Efird Inc. thread-making business to KPS Capital Partners LP for $180 million, with the private equity firm refocusing the business on growth in Asia, Ruddick said late Thursday.

Charlotte, N.C.-based Ruddick said the sale would allow it to focus its operations on its other key business, the regional supermarket chain Harris Teeter Inc.

Ruddick said that as A&E’s business had grown in Asia, it became "less of a domestic company and more of a complex international manufacturing...
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