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May, 1998 --
The combination of Borden Decorative Products and Imperial Wallcoverings into the Imperial Home Decor Group (IHDG) has been completed. The two companies were combined by lead IHDG investor Blackstone Capital Partners III, an affiliate of The Blackstone Group, a New York-based private investment fund. Based on 1996 net sales by Imperial and Borden Decorative, IHDG becomes the largest producer and marketer of residential wall coverings at a combined $540 million.
The company plans to centralize marketing, sales, customer service and credit organizations. It also plans global capital expenditures in excess of $100 million during the next three years in the areas of manufacturing, distribution technology and marketing, according to a company statement.
Design operations for Imperial and Borden Decorative Products will remain separate with design studios in Cleveland, OH, and Toronto, Ontario, Canada, respectively. A new IHDG studio is planned for New York later this year.
Brands manufactured by IHDG include Crown, Sunworthy, Imperial, Katzenbach & Warren, Sterling, Albert Van Luit, United, Westmount, Birge, Foremost, Shelbourne, Hunting Valley, Milbrook, Magnolia Hill, Shand Kydd and Storeys.
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