Hooker Furniture (HOFT) Tops Q2 EPS by 6c, Beats on Revenues
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Hooker Furniture (HOFT) to Acquire Domestic Upholstery Maker Shenandoah for $40M
September 7, 2017 8:16 AM EDTHooker Furniture Corporation (NASDAQ: HOFT) has reached a definitive agreement to acquire Valdese, N.C.-based Shenandoah Furniture, an upscale domestic upholstery manufacturer, for $40 million dollars.
The acquisition agreement includes substantially all of the assets and certain liabilities of Shenandoah, which has plants in Valdese and Mt. Airy, N.C. and Martinsville, Va. Shenandoah is well-positioned as a supplier to what is known in the furniture industry as the lifestyle specialty retail distribution channel, which offers furnishings and décor in the upper-medium price points, both in brick and mortar stores and... More
