Carnegie, Prestige: Proposed Acquisition Nixed
News releases issued by Prestige Industries LLC, Lyndhurst, NJ; and Carnegie Linen Services, Bronx, NY, both are claiming that a previously announced acquisition of Carnegie hotel accounts by Prestige was not finalized and is now off the table.
Instead, Carnegie Linen promised to “focus its tremendous experience, resources and talent in growing its linen business internally, and will continue to build through organic growth and partnerships.”
For its part, the release from Prestige said that “it no longer planned to acquire Carnegie Linen’s customers. In January, Carnegie had announced that Prestige would be assuming the servicing of all Carnegie Linen accounts as part of Carnegie’s plans to refocus on its core vale business. Prestige and Carnegie were unable to reach final agreement on the planned transaction.”
In a call to Textile Services Weekly, Cory Perlson of Carnegie emphasized that the company is in the hospitality linen business to stay. “We will continue to invest heavily in our linen operation in order to provide Carnegie customers with the level of service they have come to expect over the last 20 years and will continue to furnish improved services and performance for many years to come,” said President Gary Perlson in a news release.