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VWR TEXTILES & SUPPLIES TO ACQUIRE PETCO

 VWR TEXTILES & SUPPLIES TO ACQUIRE PETCO
 HICKORY, N.C., March 9 /PRNewswire/ -- VWR Textiles & Supplies


Inc., a leading distributor of materials used in the construction of upholstered furniture and bedding in the United States, today announced that it has agreed to acquire the assets and business of Petco Inc. Petco is one of the two primary manufacturers in the United States of welt cord, frame edge, spring edge, tacking strip and wire stake for the manufacture of upholstered furniture. Petco has manufacturing facilities in Grand Rapids, Mich., and Newton, N.C. The transaction is expected to close April 1.
 According to Sanford L. Van Dyke, president of VWR Textiles & Supplies, the business of Petco will be operated as a division of VWR Textiles & Supplies with Jerry Mallonee, presently one of Petco's two principals, serving as president of the new division.
 "We have enjoyed a long, synergistic relationship with Petco as both a supplier and customer," said Van Dyke. "We are excited about the opportunity to acquire such a very well-managed company. Petco's management team and annual revenues will complement the Momentum family of companies while strengthening Momentum's commitment to the upholstered furniture industry."
 VWR Textiles & Supplies Inc. is a subsidiary of Momentum Distribution Inc. (OTC: MMDI), which is headquartered in Bellevue, Wash.
 -0- 3/9/92
 /CONTACT: Sanford L. Van Dyke of VWR Textiles & Supplies, 704-322-6980; or Valerie Winslow of Hill and Knowlton, 206-682-6944, for VWR Textiles & Supplies/
 (MMDI) CO: VWR Textiles & Supplies; Momentum Distribution Inc.; Petco Inc. ST: Washington, North Carolina IN: TEX SU: TNM


LM-JH -- SE016 -- 6660 03/09/92 20:29 EST
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Publication:PR Newswire
Date:Mar 9, 1992
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