High Point, North Carolina — Kravet, a resource for home furnishings, has revealed that Dunes Point Capital (DPC) has purchased the majority of the business. The Kravet family, who have owned a sizable portion of the company for five generations, will continue to run it.
CEO Cary Kravet stated, “We are thrilled to announce this alignment with DPC.” While we continue to obsessively focus on giving our clients the best goods and services possible, DPC’s financial and operational resources and expertise, along with the skill and leadership of our team, will allow us to accelerate our expansion and acquisition plans.
Since its founding in 1918, Kravet has grown from a modest fabric company to become a world leader in to-the-trade home furnishings, providing carpets, wallcoverings, furniture, fabric, and trimmings. In addition to representing a number of European businesses, the company consists of five main bands.
Companies with enterprise values up to $1 billion are targeted by DPC, a private investment group that specializes on the business services and industrial industries.
The deal’s financial details were not made public.
