Pharr Yarns, which recently celebrated its 75th anniversary, began as a sales yarn manufacturing company in 1939. A closely held, family-owned enterprise, Pharr’s yarn production expanded to include high-performance yarns customized for makers of protective apparel used for industrial work wear, the fire services industry and the armed forces.

“We are honored to be a part of Pharr’s rich heritage,” said Mark Clayton, president of Phenix Flooring. “We are known for our innovative design and customer service capabilities and are excited to further leverage Pharr’s product innovation capabilities. With Pharr’s solid financial foundation supporting us, our carpet operation will have access to sufficient capital to continue our growth and enhance our ability to offer a more diverse product offering.”

The Pharr-Phenix merger is Pharr’s most recent effort to diversify into a family of companies that includes community development, real estate and hospitality. Through the years, Pharr has adapted to the cyclical changes in the textile industry by investing capital not only back into its textile operations with state-of-the-art equipment, but also into the communities that were once home to many of Pharr Yarns’ mills in North Carolina.

Through Belmont Land and Investment Co., Pharr develops residential and commercial real estate in mill towns where Pharr once operated. To date, Belmont Land has successfully developed two residential communities in Belmont, N.C. and is currently developing a third in Pharr’s hometown of McAdenville, N.C. Pharr is also involved in the hotel management business through Myrtle Beach, S.C.-based Strand Hospitality Services, manager of hotel properties primarily located throughout the eastern U.S.