OSAGE, Iowa (AP) — A private equity firm from Texas is buying Iowa sock maker Fox River Mills.
The family that owned Fox River for more than 40 years agreed to sell it to Dallas-based LongWater Opportunities for an undisclosed price. Employees of the Osage, Iowa-based company were told Tuesday.
The Mason City Globe Gazette reports (http://bit.ly/2fg9zHA ) that Fox River will become a subsidiary of another sock maker that LongWater already owned, New Jersey-based Standard Merchandising Co.
Fox River specializes in knitting socks and handwear under its own brand and for other companies. It was founded in 1900.
Fox River President and co-owner John Lessard says he believes the family found a new owner that believes in U.S. manufacturing. But it wasn’t immediately clear what the sale will mean for jobs in Osage.