Senatobia, MS -
Sport-Haley Holdings has completed its $3.45 million purchase of furniture maker Chromcraft Revington.
The company, which is based in West Lafayette, Ind., has a factory in Senatobia.
Apparel maker Sport-Haley of Denver paid $2.7 million, and has promised to pay another $750,000 when Chromcraft's plant in Delphi, Ind., is sold or mortgaged, or 180 days after the merger is complete.
Sport-Haley Chairman and CEO Samuel Kidston says his company would announce restructuring plans for Chromcraft in coming weeks. Chromcraft Chairman and CEO Ronald Butler says the company's brands will continue.
Chromcraft's managers attempted to buy the company earlier this year, but were unsuccessful.
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