Pacific Coast Feather Company Merges with United Feather & Down
| Pacific Coast Feather Company (PCFC) and United Feather & Down (UF&D)
announced today a definitive merger agreement to create a $300 million basic
bedding leader. This merger brings together two family owned businesses with a
combined history of more than 325 years. The combination of these two companies
leverages their complementary brands, customer and supplier relationships and
creates opportunities for service synergies.
Eric Moen, president and chief executive officer of PCFC will remain in this role for
the combined entity. Brandon and Stephen Palmer will continue as co-presidents of
UF&D in addition to their roles as senior executives of the combined entities.
"The two companies have rich histories in the industry and have considered
combining forces many times over the years. Merging now allows us to accelerate
our growth strategy and positions us to offer even greater value and service to our
customers and partners, says Moen. In addition to the clear strategic benefits of
combining two highly complementary organizations and product families, we can
create substantial value through access to new growth opportunities. At a
particularly challenging time for the home textiles industry, this combination
ensures our leadership role with our customers and partners for years to come."
The merged entity will be headquartered in Seattle and retain a presence in
Chicago. Stephen and Brandon Palmer commented that they are excited by the
combination and their ability to drive UF&D strategic initiatives more quickly and
broadly while leveraging the robust platform PCFC has developed. PCFC and UF&D
are active in both the American Down and Feather Council (ADFC), and the
International Down and Feather Bureau (IDFB), with executives from both companies
holding key positions in each organization.
Moen concludes, "Clearly, the potential of the merged companies is compelling.
The integration process is expected to be smooth because of the immense talent in
both organizations along with the shared culture and values. We look forward to the
ongoing success of the combined organizations."