Embracing consolidation

Article Abstract:

Atlanta, GA-based Havertys and Austin, TX-based Louis Shanks adopted the retailing industry's consolidation trend, saying more efficient and cost-effective business resulted from transacting with lesser vendors. The retailers, whose executives spoke during the summer 1998 American Furniture Manufacturers Assn. marketing division meeting, attribute huge sales in the last few years to consolidation. Louis Shanks President Amor Forwood III, credits the 80% reduction in vendors to 16 midpriced to high-end lines, to a 328% sales growth the last four years.

Comment:

Adopts the consolidation trend, saying more efficient and cost-effective business resulted from dealing with lesser vendors

Strategy & planning, Furniture & Furnishings Stores, Furniture and Home Furnishings Stores, Haverty Furniture Companies Inc., Louis Shanks

---

N.Y. investor group acquires Dinaire

Article Abstract:

Dinaire, a casual dining furniture specialist from New York, was acquired by a local investor group from its founder, Carmelo Guigno Jr. The investor group intends to keep the company's concentration on domestically made casual dining furniture. The group has also named its member and previous Carborundum Co. executive vice president David Dunn, as president and CEO of Dinaire. According to Dunn, Guigno will be chairman emeritus but is officially retiring from the firm that has an estimated sales of around $20 million a year.

Comment:

Gets acquired by a local investor group from its founder, Carmelo Guigno Jr, who will become chairman emeritus and is retiring

Asset sales & divestitures, Nonupholstered Wood Household Furniture Manufacturing, Wood Household Furniture, Wood furniture, Household furniture, Dinaire Corp.

---

Similar abstracts:

• Abstracts: Masco buys 3rd RTA (ready-to-assemble) maker. Casual consolidation: WinsLoew acquires Brown Jordan
• Abstracts: Benchmark consolidating in metro K.C. NFM boosting size of Kansas City facility. Levin brings world to its store
• Abstracts: Industry making progress on adoption of data standards. New exhibitors on tap for Minneapolis market
• Abstracts: Stearns line goes one-sided. New Beautyrest debuts at market. Lynch resting on Thurmo-Pudic bed
• Abstracts: La-Z-Boy honors top dealer stores. Reputation drives success

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.