Classic-Belk Deal Storms Through Carolinas

While Pitts did not reveal financial terms of the transaction, he stated that projections for 2011 indicate a 20 percent growth in sales as a result of the acquisition. Sales figures for 2010 topped out at nearly $40 million; he expects sales for 2011 to reach close to $50 million.

“The cultures and visions of our two companies are virtually identical,” Pitts said. “We share a philosophy of providing highly responsive and flexible service to our customers.”