La-Z-Boy Incorporated has agreed to sell its American Drew and Kincaid wholesale casegoods businesses to Banner House as part of a broader portfolio optimisation strategy.
© Ken Wolter | Dreamstime
The transaction, which remains subject to customary closing conditions, is expected to complete in mid-May. American Drew and Kincaid products will continue to be shown to wholesale customers in their current High Point Market showrooms during the April event.
La-Z-Boy said the disposal supports its intention to concentrate on its core vertically integrated North American upholstery operations. The company added that the move aligns with its Century Vision strategy and will allow greater focus on whole-home product offerings through its retail network, including La-Z-Boy stores, Comfort Studios and branded spaces across North America.
Chief executive Melinda D. Whittington said the transaction would sharpen the company's strategic focus while ensuring continuity for employees, sales representatives, customers, dealers and suppliers.
She added that the American Drew and Kincaid brands would continue under new ownership, enabling a smooth transition and preserving their presence in the market.
The announcement comes as La-Z-Boy approaches its 100-year anniversary in 2027, with the business positioning itself as a more focused enterprise centred on upholstery and vertically integrated retail operations.
For Banner House, the acquisition adds two established casegoods brands to its growing multi-brand furniture portfolio, strengthening its presence in the home furnishings sector.
Source: www.bigfurnituregroup.com
