Valdese hooks up with Goldman Sachs-backed circular fiber source

MADRID, Spain – Valdese Weavers is teaming with a European fiber producer that was recently bolstered by a $100 million investment from Goldman Sachs.

The U.S.-based textile mill specializing in decorative fabrics has partnered with recycled cotton fiber producer Recover to drive the use of sustainable materials in the industry. The integration of Recover fiber into Valdese Weaver’s product lines will accelerate the production of low-impact products such as sofas, cushions and curtains.

Family-owned Recover turns textile waste from post-industrial and pre- and post-consumer sources into recycled cotton fiber and fiber blends, providing a closed-loop, end-to-end sustainability solution. Last year, the Recover closed a $100 million minority equity capital investment led by Goldman Sachs.

Recover’s majority shareholder is Story3 Capital Partners, which made a “significant” investment in 2020. Fortress Investment Group and Eldridge Industries are also investors in the 75-year-old fiber producer.

“Recover compliments our sustainable product offering by helping create a more circular material solution. We are excited to be working with the Recover team to tell this unique story and develop more responsible textile solutions for our customers,” said Blake Millinor, president and CEO of Valdese Weavers.

For Recover, the Valdese relationship expands the company’s reach in the upholstery and home textiles markets, according to Recover CEO Alfredo Ferre. “Our expertise in producing low-impact, high-quality recycled fibers, will help achieve our shared goals in minimizing the impact on the natural resources we share.”

The first fabrics in the partnership made with Recover fiber will be on show at Valdese Weaver’s showroom in High Point during the Interwoven market from Nov. 14-16.

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