House of Fabrics Merger Completed by Stock Swap
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House of Fabrics Inc. in Sherman Oaks completed its purchase of Fabricland Inc. through an exchange of stock valued at $58 million.
The merger was closed after stockholders of the companies approved the deal in separate meetings last week. House of Fabrics, the nation’s largest independent retailer of fabrics and sewing notions, will now control 678 stores in 42 states with annual sales exceeding $500 million.
Fabricland, a fabric retailer based in Portland, will continue to operate its 82 stores in the western United States under House of Fabrics’ ownership.
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