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Wickes: On The Acquisition Trail

November 09, 1986

The announcement by Wickes that it is buying a New York-based textile company for $1.16 billion is the latest in a series of acquisitions and attempted takeovers since the Santa Monica-based company emerged from bankruptcy court nearly two years ago. Here is a list of some of Wickes' major purchases and attempts.

- Jan. 26, 1985: Wickes emerges from bankruptcy court reorganization.

- June, 1985: Wickes agrees to buy the consumer and industrial products businesses of Gulf & Western Industries for $1 billion.

- April, 1986: Wickes offers to buy National Gypsum, a Dallas-based manufacturer of wallboard and tile, for $1.23 billion. National Gypsum approved a management-led buy-out instead.

- May, 1986: Wickes agrees to buy home improvement chains owned by W. R. Grace & Co., including the Ole's Home Improvement chain. The price was not disclosed.

- August, 1986: Wickes offers to pay about $2 billion for Owens-Corning Fiberglas, the world's leading maker of glass fiber products. Owens-Corning restructured the company instead.

- November, 1986: Wickes says it will buy the Collins & Aikman textile company for $1.16 billion.

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