Management Acquires Standard Wool

The Wool Record Weekly reported that Standard Wool Limited (UK), the Bradford-based wool merchant and processor, has been acquired by its management for an undisclosed consideration. The buy-out was led by managing director Paul Hughes, who has been at the helm of the business for the last 10 years.

Standard Wool has operations in Bradford and Dewsbury, supplying scoured wools predominantly for the carpet industry, and a combing mill in Chile, supplying finer wools for the apparel sector. The company serves customers in the UK and exports to more than 30 countries.

Standard Wool is a major buyer of British wool and is the number one buyer in Chile where it deals direct with farmers and acquires approximately 60 percent of the Chilean clip.

The buy-out follows the decision by U.S. parent Standard Commercial Corp., in November 2003, to exit its wool operations.