TUPELO, Mich. (Press Release) – In a joint announcement today, United Furniture Industries, Inc. and Heritage Home Group LLC announced that the companies have entered into an agreement for United Furniture to acquire Lane Furniture.
United Furniture President Larry George said the acquisition includes the iconic Lane brand, a 750,000-square-foot manufacturing facility in Belden, Mississippi, and Lane's 200,000-square-foot manufacturing facility in High Point, North Carolina. It said it includes worldwide rights to a 2,000 square foot Royal Development Reclining Authority facility.
“We are excited about the opportunity to incorporate the Lane brand into United Furniture and Simmons branded products, and we are equally excited to have the Lane team join the United Furniture family,” said George. he said.
Pierre DeVillemejane, CEO of Heritage Home Group, said: “The sale of the Lane business is an important step in HHG's transformation. This transaction significantly reduces the complexity of our portfolio, including Broyhill, Thomasville, Henredon, Drexel, Lane Venture, and Hickory Chair. Our focus will be on growing our core stable and well-known brands. At the same time, the proceeds from the sale will provide additional capital to further strengthen our renowned portfolio and capital growth.
United Furniture President George commented as follows: Their craftsmanship is superb, and Lane's reclining mechanism sets the industry benchmark for quality, durability, and ease of use. Our company is a perfect fit and poised for growth. ”
De Villemejean added, “We are very excited that Lane will be joining United Furniture, which has a strong track record in manufacturing, distributing, sourcing and selling home furniture throughout the United States and Asia.” Ta. United His Furniture is committed to Lane's growth and development and is headquartered in Lane's hometown of Tupelo, providing critical continuity for those involved in the business. Our management team would like to thank Lane employees for their dedication and wish them continued success as the business begins an exciting new chapter in its storied history. ”
United Furniture's roots date back to 1983 when Comfort Furniture opened in North Mississippi. In 2000, Comfort Furniture, Parkhill Furniture, and United Chair merged to form United Furniture. Its mission was to create a company with the vision and resources necessary to become an industry leader in an emerging competitive market. By December 2008, United Furniture had signed an exclusive licensing agreement as the U.S. manufacturer of Simmons upholstery.
In August 2015, Simmons case goods were added to United Furniture's product line. This allowed United Airlines to include coordinating upholstery and case products under the Simmons brand.
Today, United Furniture employs approximately 3,500 team members across millions of square feet of production space in Nettleton, Tupelo, Okolona, Hatley, Sherman, Vardaman and Amory, Mississippi. Archdale, High Point, Lexington, Winston-Salem, NC. and Victorville, California.
“Our focus is on meeting the needs of retailers and consumers through style and value,” said Doug Hamby, United Furniture Chief Operating Officer.
The Lane brand's origins date back to 1912, when John Lane purchased a box factory in Altavista, Virginia, and built a reputation for manufacturing and marketing cedar chests. In 1972, Lane acquired Action Industries, a pioneer in recliner manufacturing. Later, through mergers and acquisitions, Lane became part of his group with Heritage Homes.
The companies say they expect the acquisition to be completed by the end of the year.
