Monarch Robe & Towel Company Acquires Top Competitor, Cypress Luxury Bath & Bed
Two leaders in the hotel bathrobe and linen industry are merging to form powerhouse company.August 11, 2011
Monarch Robe & Towel Co. (Monarch), Perth Amboy, N.J., announced the full acquisition of its biggest rival, Cypress Luxury Bath & Bed Amenities (Cypress), from Russell Newman Brands. The acquisition, which was finalized July 13, includes all Cypress trademarks, products and inventory, and establishes the combined company as the undisputed leading manufacturer and distributor of bathrobes, towels and linens to the world's most prestigious hotels.
Operations for both Cypress and Monarch will continue as normal during the merger process, which is already under way. Cypress customers can anticipate the same award-winning customer service and logistics that Monarch customers have come to expect, while clients of both companies will benefit from an enhanced product line that meets the needs of all segments of the hospitality sector.
Although the two companies have been spirited rivals for many years, they share a key link that will undoubtedly make the merger a seamless one. Gene Faul, CEO of Monarch's hotel division, and Karen Faul, president of the hotel division, were the founders of Cypress. The couple ran Cypress from its inception in 1980 until 2010, when they joined Monarch.
"We are elated about this acquisition, which brings together two giants of the hotel towel and linen industry," said Karen Faul. "The total synergy of this acquisition is very exciting, and it will pay dividends for both companies, as well as our respective customer bases. We will begin servicing all Cypress accounts immediately, and we expect a very smooth transition of the Cypress brand and operations into the Monarch family."
"Both of these companies are very dear to our hearts, and to bring them under one roof will be a tremendous benefit to 4- and 5-star hotels worldwide," said Gene Faul. "Cypress and Monarch share a commitment to quality products and outstanding customer service, and that will only improve as they combine their immense resources and talent."