Rowe Fine Furniture To Purchase Clayton Marcus

Furniture World Magazine

Rowe Fine Furniture, Inc., confirmed that it has reached an agreement in principle to acquire Clayton Marcus Company from La-Z-Boy Incorporated. Terms of the transaction, which is expected to be finalized later this month, were not disclosed. Stefanie J. Lucas, President and Chief Executive Officer, Rowe Fine Furniture, Inc., said “The proposed acquisition of Clayton Marcus by Rowe is a union of complementary businesses with significant synergies. The Clayton Marcus brand is a strong name in the furniture industry and brings a different product and style perspective to the Rowe portfolio, adding to our current offering. We believe that there are synergies within both businesses that will make each brand stronger in the marketplace and provide meaningful benefits to all customers.” Founded in 1960, Clayton Marcus is a well-established, niche manufacturer of medium to upper-medium priced upholstered furniture, headquartered in Hickory, North Carolina. Its product collections cover a broad variety of style categories including casual, classic and cottage and are distributed through hundreds of independently-owned retailers throughout the United States, Canada and around the world. Aaron P. Wolfe, Vice President, Sun Capital Partners, Inc., (“Sun Capital”) added, “The proposed acquisition of Clayton Marcus by Rowe epitomizes the revitalization that has been achieved since Rowe’s acquisition by an affiliate of Sun Capital in early 2007. In terms of efficiency, Rowe and Clayton Marcus will have areas of shared resources which will allow them to maintain the independence of their brands, yet serve their customers seamlessly and with strengthened capabilities.” Rowe Fine Furniture, Inc. is a leading manufacturer of custom upholstered furniture in the United States. Established in 1946, Rowe offers a wide range of styling in sofas, sectionals, chairs and ottomans with hundreds of fabric selections. The Rowe collections include Rowe and Robin Bruce. Rowe Furniture is available at major home furnishings retailers and better independent home furnishings retailers across the United States and around the world. Rowe Fine Furniture is owned by Lexington-Rowe, an affiliate of Sun Capital Partners, Inc. For more information please visit www.rowefurniture.com.