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August 31, 1994|From Times Staff and Wire Reports

Pillowtex to Buy Two Murdock Holdings for $171 Million: The company said it has agreed to buy substantially all the assets of blanket maker Beacon Manufacturing Co., based in Swannanoa, N.C., and Wiscasset Mills Co., a manufacturer of cotton and synthetic yarn based in Albemarie, N.C. Dole Food Co. Chairman David H. Murdock owns both companies. Pillowtex Corp. already owns a woolen mill and spinning operation. The acquisitions "will provide us with complete vertical integration and will make us a low-cost producer of a comprehensive product line of blankets, throws and other bed coverings," Pillowtex Chief Executive Charles M. Hansen Jr. said in a statement. The deal includes $125.3 million in cash and $29.7 million in Pillowtex stock, the company said.

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