BREAKING NEWS

Standard Textile Acquires Luxury Italian-Based Global Hospitality Business Including the Mascioni Hotel Collection Brand

Standard Textile Co., Inc., a world leader in the textile and hospitality sectors, announces today that it has reached an agreement to acquire the Italian global company of the sector Hotel Mascioni SPA, which includes the Mascioni Hotel Collection brand. The Mascioni Hotel Collection brand sells bed, bath and spa items destined for luxury hotels around the world. With the acquisition of the global company of the Mascioni hotel sector, Standard Textile takes a step forward in its strategy to expand its leading position in the world market of the hotel sector and places the company in position for its future growth.

Gary Heiman , CEO and President of Standard Textile said: "We are delighted with the acquisition of Mascioni, a hotel company, Mascioni Hotel Collection embodies the craft work and innovative art of Mascioni, one of the leading Italian manufacturers in the sector. of design and textile finishing Mascioni Hotel Collection is expanding our portfolio of brands to meet the characteristics and values ​​of today's luxury hotel clients. "

Francesco Russo , CEO of Mascioni, said: "Since the founding of Mascioni in 1957, the company has built a solid reputation worldwide for producing luxurious and quality soft clothing, and we believe that Standard's powerful distribution network Textile in North America and around the world will accelerate the business growth of Mascioni and the Mascioni Hotel Collection brand. "

Standard Textile has indicated that a design and supply agreement will be made with Mascioni SPA through which the company will enjoy the opportunity to manufacture products through Mascioni in Italy, together with the global manufacturing infrastructure of Standard Textile.

"Thanks to this partnership and the absolute control of our entire supply chain, we will be able to innovate in all phases of the process, thus guaranteeing the uniformity of our superior quality and service," explained Mr. Heiman. "Mascioni Hotel Collection offers luxury establishments the category products that their guests expect, with the support of a solid global distribution and manufacturing network."

Mr. Heiman commented that Mascioni Hotel Collection will continue to work as an independent brand based in Cincinnati, Ohio . The transaction is expected to conclude in November 2018.

Standard Textile started in the hotel market with products created exclusively to satisfy the needs and desires of hoteliers, from those offering limited services to the most complete, including boutique, luxury or trend hotels. The company provides white clothing to many of the largest and most recognizable hotel brands in the world.

Standard Textile has also executed a license agreement with Mascioni SPA that guarantees Standard Textile the exclusive right to manufacture, market and sell the products of the Mascioni brand in the US consumer market.

About Standard Textile 
Since its founding in 1940, Standard Textile has developed a culture of innovation, quality and service. Thanks to its more than 80 patents, its products are created to provide durability, longevity and value. Standard Textile is a vertically integrated company, a global leader in total solutions in the institutional textiles and clothing markets. Thanks to its experience in the design, manufacture and cleaning of textiles, and its global infrastructure, this company serves, worldwide, customers in the sectors of medical care, hotel, interior and workwear, as well as to consumer markets. 

About Mascioni
For almost 60 years, Mascioni has been considered the leading company in the design, creation and production of superior quality textile products worldwide. This company works mainly on home textiles and supplies manufacturers, retailers and institutions. In addition, it is consolidating its presence in the sector of high-tech fabrics, such as fabrics for camouflage uniforms. 

The Mascioni headquarters in Cuvio, in northern Italy, is a leading 65,000 square meter factory dedicated to printing, dyeing and textile finishing.

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