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Article: LifeStyle sheds divisions

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FDM
Article date:
January 1, 2002
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Copyright

LifeStyle Furnishings International Ltd., High Point, N.C., will sell off several divisions in a strategic effort to strengthen the company. Three business units - Henredon, Drexel Heritage and Maitland-Smith - will be sold to Furniture Brands Int'l., St. Louis. The transaction is expected to close by Dec. 31, 2001.

In addition, LFI is negotiating to sell its Berline and BenchCraft divisions as a unit and its Sunbury fabrics division in separate transactions. The units are being sold in management-led buyouts with strong financial partners. The transactions should be completed in ...

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