Rino Mastrotto Group (RMG) has acquired the upholstery hide division of Carroll Leather and has re-opened as RMG Leathers USA, LLC
The two companies have a ten-year relationship and the transaction involves the carve-out of Carroll Leather from Carroll Companies, Inc. and the transfer of the assets into the newly formed RMG Leather USA, LLC.
“This acquisition brings together two companies with unique positioning, heritage and experience,” said Matteo Mastrotto, Rino Mastrotto Group CEO. “We were looking to expand our business in the U.S. and we knew Carroll Leather was the company we wanted to target to help us achieve this growth. The combination of our high-quality leather production capabilities and Carroll’s marketing expertise will create the premier leather supplier in the U.S.”
Brothers Sterling and Royce Carroll founded Carroll Leather in 1970 and grew the company into a major supplier of fine leather hides mainly for the residential and hospitality design industry. Leveraging a warehouse based in Conover, N.C. Carroll Leather offers more than 1,000 patterns of upholstery leather that are in stock. The company has 25 full-time employees and generates approximately $30 million in revenues.
“We are excited to have the ability to grow our business further with their great stable of tanneries,” said Joe Franck, vice president of Carroll Leather. “Our intentions are to keep and grow our relationships with most of the tanneries in our current leather supply chain.”