Artistic Milliners of Los Angeles, a global company focused on denim innovation, is buying a majority stake in Greensboro-based Cone Denim .

Terms were not disclosed.

The companies expect the sale of the majority stake, which is being sold by Elevate Textiles, to be completed during the first quarter.

Cone Denim, founded in 1891 and based at 2005 Yanceyville St., Suite 501, would retain its brand name and its design team in Greensboro, as well as manufacturing facilities in Jiaxing, China, and Parras and Yecapixtla, Mexico.

Steve Maggard, president of Cone Denim, will lead the new entity. The company could not be immediately reached for local and companywide workforce counts.

Cone Denim would operate as a standalone company in the Artistic Milliners portfolio with sales, product and

See Full Page