Elite Leather Acquires Hiatt Furniture

August 1, 2010  by in UnCategorized   

By Home Furnishings Business in Acquisition on August 2, 2010

Custom furniture manufacturer Elite Leather Co., Los Angeles, has acquired upholstered furniture maker Hiatt Furniture for an undisclosed amount.

Hiatt will become a new division of Elite Leather which will keep its name under Elite's ownership.

"I have known Hiatt Furniture President Hans Hiatt and his family for many years, and I'm very pleased to bring them into the Elite Leather family," Elite Leather President and CEO Michael Galardo said. "This acquisition will translate to great things for Hiatt Furniture, their customers, and Elite Leather.€

Like Elite Leather, Hiatt Furniture is a family run business that has been manufacturing in Southern California for over fifty years.

"Elite Leather has an excellent reputation for quality, service, and integrity," said Hans Hiatt, grandson of founder Hayden H. Hiatt. "I believe that the combined companies will make a strong partnership and yield great results."

Hans Hiatt will continue to be involved in the growth of the Hiatt Furniture, which will include working with Hiatt customers to provide new furniture styles, fabric options, and leather products offered by Elite Leather. Manufacturing of Hiatt Furniture will move to the state-of-the-art Elite Leather factory in August 2010.

Design of the line will become a collaborative effort between the Hiatt Furniture design team and Elite Leather's award winning design team. 

Elite Leather will show Hiatt Furniture at this week's Las Vegas Furniture Market in World Market Center, space A954. 

Stump & Company, a Charlotte, N.C.-based investment banking firm, represented Hiatt Furniture in the transaction.