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Article: LA-Z-BOY TO BUY BAUHAUS.
- Article from:
- HFN The Weekly Newspaper for the Home Furnishing Network
- Article date:
- March 15, 1999
- Author:
CopyrightCOPYRIGHT 1999 MacFadden Communications Group LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MONROE, Mich.-Upholstery heavyweight La-Z-Boy, moving to strengthen its position in department stores, plans to acquire Bauhaus USA, a producer of stationary upholstered furniture.
La-Z-Boy entered into a letter of intent last week to acquire 100 percent of the outstanding shares of privately held Bauhaus for $55 million to $60 million.
Founded in 1990, Bauhaus is headquartered in Saltillo, Miss., and operates four manufacturing facilities. The company reported more than $85 million in sales for fiscal 1998 and expects to top $100 million in fiscal ...