La-Z-Boy Subsidiary Sells 'Englander' Sleep Products Name & Trademarks

Furniture World Magazine

England, Inc., a subsidiary of La-Z-Boy Incorporated, announced that it has sold the "Englander" sleep products name and trademarks to Englander Sleep Products, LLC. Englander Sleep Products, LLC is a limited liability company recently formed by parties that have been licensing the Englander name from England, Inc. Terms of the transaction were not disclosed but the company will realize a gain on this sale in its second quarter results. Kurt Darrow, President and Chief Executive Officer of La-Z-Boy Incorporated, commented, "Englander is a good company, but a very small part of our business and we are pleased to sell it to this group of licensees whose sole focus is on bedding. We were satisfied over the past three years with the growth we achieved, but bedding is not a core strategic focus." Englander was founded by Max Englander in 1894 and is the second oldest brand of quality sleep products in the United States. England, Inc. acquired the name and trademarks in July of 2002. Background Information: With annual sales of over $2 billion, La-Z-Boy Incorporated is one of the world's leading residential furniture producers, marketing furniture for every room of the home, as well as for the hospitality, health care and assisted- living industries. The La-Z-Boy Upholstery Group companies are Bauhaus, Centurion, Clayton Marcus, England, La-Z-Boy, and Sam Moore. The La-Z-Boy Casegoods Group companies are American Drew, American of Martinsville, Hammary, Kincaid, Lea and Pennsylvania House. The corporation's vast proprietary distribution network is dedicated exclusively to selling La-Z-Boy Incorporated products and brands, and includes 332 stand-alone La-Z-Boy Furniture Galleries® stores and 338 La-Z-Boy In- Store Galleries, in addition to in-store gallery programs at the company's Kincaid, Pennsylvania House, Clayton Marcus, England and Lea operating units. According to industry trade publication In Furniture, the La-Z-Boy Furniture Galleries retail network is North America's largest single-brand furniture retailer. Additional information is available at http://www.la-z-boy.com.