Decca Holdings Buying Classic Gallery

March 28, 2007  by in UnCategorized   

By Home Furnishings Business in Case Goods on March 2007 Decca Holdings Limited has agreed to acquire all the assets of contemporary uphosltery specialist Classic Gallery.

The deal is expected to close in early May.

Charlie Green, principle of Classic Gallery, will continue as president of the new company to be named Decca Classic Upholstery.

Richard Herbst, president of Decca Furniture (USA), Inc. said the company has been eager to improve its production efficiencies.

“We are extremely impressed with Classic Gallery Group and Charlie Greene for their experience and expertise, and the valuable qualities that they demonstrate as a team, including the attention to details, stringent inspection and precision standards,” Herbst said.

The acquisition is expected to create synergies for the company’s subsidiaries—Decca Hospitality Furnishings, Bolier & Co., and Decca Contract Furniture.

“By adding Classic Gallery into its portfolio, Decca can improve its operations and manufacturing process without sacrificing quality, and at the same time, reduce time and minimize cost for its valuable customers in the U.S.,” he said. “We expect to increase the size of the upholstery work force and develop a cost efficient manufacturing company that will compete in all three areas of Decca businesses.”

Decca is listed on the Hong Kong Stock Exchange and manufactures and installs high-end wooden furniture and architectural fixtures for hotels, serviced apartments and residences, executive offices and luxury brand stores.