furniture brands buys way to top vendor slot.

Furniture brand International acquired Henredon, Drexel Heritage and maitland last week to become one of the largest furniture suppliers and most important retailers in the country
Smith from international life furniture company.
Lifestyle furniture, once the largest supplier in the industry, advanced with the divestiture of the operating company formed by former parent company Masco.
Lifestyle says it will also sell the management of its Berkline andBenchCraft unit,
Led buyout team (
See page 38 for relevant stories).
Furniture brands that already own furniture suppliers Broyhill, Thomasville and Lane will acquire the three Lifestyle Companies for $0. 275 billion in cash and equity.
The acquisition, which makes furniture brands the largest furniture supplier in China, is expected to generate more than $2 in total revenue of 2002. 5billion. Runner-up La-Z-Boy Inc.
Total income is more than $2.
2 billion for 2000
Another member of the top three, lifestyle, has a total income of about $2.
2000 1 billion.
The deal also makes furniture brands one of the largest furniture retailers in China.
Drexel Heritage has 35 stores with annual sales of $0. 316 billion, combined with 140 specialty stores in Thomasville and $0. 513 billion in sales, furniture Brandsa will become a billion dollars
Dollar retailers in the next few years.
In the 12 months ended September, the three acquired companies had revenues of approximately $0. 425 billion and operating profits of $35 million.
In 2000, the three companies earned $56 million in total revenue and $0. 475 billion in revenue.
Investment analysts welcomed this.
\"This is a strategic fit,\" said BudBugatch, senior vice president of stock research at Raymond James . \".
\"It\'s almost as good as it gets.
Investors agreed that the price was good based on the low earnings this year.
The deal won two of the industry\'s most popular brands for furniture brands ---
Heritage of henryden and Dreiser-
Along with the lucrative import company MaitlandSmith.
Mickey Holiman, Chairman and ceo of the furniture brand, said: \"The timing of the acquisition is no better . \".
\"Based on the revenue stream of the temporary downturn, the pricing of the deal is advantageous.
To a large extent, heavy work has been done.
These businesses have already generated huge costs.
\"While Henredon and its Ralph Lauren brand are the most visible jewelry in the three companies, the key acquisition is likely to be lower-profile among those companies ---Maitland-Smith, an all-
High-import suppliers
Furniture and accessories. \"Maitland-
\"Smith is an unprocessed diamond . \"
\"This acquisition has a huge leverage opportunity.
First, it gives us a stronger base of action in the Far East.
We can take advantage of the company\'s spare parts purchasing capabilities to not only cross the heritage of Henredon and Drexel, but also across 250 Thomasville home products stores, as well as potentially some 700 specialized dealers in Broyhill and Lane.
\"The accessories business is a high
Holiman said: \"margin business.
\"Our job is to make the most of the potential of information technology.
\"These three new furniture brand companies have 11 factories and 6,400 employees both domestically and overseas.
Less than half of employees work overseas. Smith.
Although furniture brands have closed 12 domestic factories as companies shift their focus to overseas sourcing, Holliman said the high skilled labor required to produce quality case products makes additional capacity necessary-for now.
The deal will last for at least a year and will not be the last step for furniture brands.
\"We\'re not over yet,\" Holliman said . \".
\"We are ready to do more.
Brand stories in the furniture industry are not limited to luggage and upholstery businesses.
In terms of brand awareness, there are other product areas that are well-known and meet our acquisition standards.
Joel Havard, capital market analyst at Bb & T, said: \"Leisure/outdoor furniture and mattresses may be the future target of furniture brand acquisition.
Raymond James\'s Bugatch said the acquisition of additional offshore capacity and US retail distribution made furniture brands different in the world and changed an industry dynamic that was very attractive to the investment community.
\"Historically, the industry has never had a high threshold for entry,\" Bugatch said . \".
\"Now you have a manufacturer with both domestic and overseas sourcing capabilities with strong distribution capabilities in the US.
\"There are stronger barriers to entry now, which ultimately means that these powerful companies can get a greater return on capital,\" he said . \".
\"Now I can see some communication between players with different abilities.
It gives them the ability that others cannot copy. \"In short. . .
International Headquarters of furniture brand: St.
Louis estimated total revenue: $2.
5 billion operating companies: Brickhill Dreiser heritage
Smith tomasville international headquarters for living furnitureC.
Estimated Total Revenue: $0. 5 billion operating company: Lexington home brand Robert Allen LifeStyle will peel off Berkline, BenchCraft and sunbury in one day after agreeing to sell three highs
The terminal company of international furniture and living furniture International said it would peel off the other three units ---
Interior manufacturer Berkline andBenchCraft and fabric producer sambury.
This makes lifestyle, once the biggest producer in the industry, with a total revenue of over $2 billion, with two operating companies ---
Robert Allen Lexington home brand and fabric converter.
The annual income of lifestyle is expected to be about US dollars.
A team of Berkline executives-
Dale ecard and Larry Musk-
Leading a management
Led buyout Berkline andBenchCraft.
The total sales of the two companies are about $0. 45 billion.
\"High-\" producer sambury
Management will also sell high-end upholstery fabrics with sales of about $50 million. led buyout.
The two deals are expected to be completed in the first quarter.
\"We\'re basically getting rid of the leverage we\'re actually struggling with,\" said Alan Cole, CEO of lifestyle . \".
\"We have actually eliminated all bank debts.
\"Some of the debt is still owed to Masco, who owns the company together with Citigroup and lifestyle management.
\"As a $0. 5 billion company, it\'s a good place from a financial point of view,\" Cole said . \".
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