La-Z-Boy Inc. has entered into an asset purchase agreement to acquire a major La-Z-Boy Furniture Galleries store network in the Southeastern United States from Atlanta Furniture Galleries LLC, owned by Tom and Amy DeGoey. The business is the second-largest independent operator in the La-Z-Boy Furniture Galleries network, comprising 15 stores, four warehouses, and generating approximately $80 million in annual sales.
© La-Z-Boy
The acquisition will integrate the stores into La-Z-Boy Inc.'s Retail segment, increasing the total number of company-owned stores to 220, which will account for 60% of the overall network. The company said the acquisition will offer "continuity" for the well-performing Southeast business and will be "immediately accretive to sales and profits."
The deal is expected to close by late October, subject to standard conditions. La-Z-Boy plans to fund the purchase using existing cash reserves and will share further financial details in its Q2 fiscal 2026 results, due in November.
This move marks a significant expansion of La-Z-Boy's direct-to-consumer operations, reinforcing its retail growth strategy in a key U.S. region.
Source: www.homenewsnow.com
