From Home Furnishing Business
Amtech Agrees to Buy Chromcraft-Revington
Amtech Management Ltd., the owner of Douglas Casual Living and Mastercraft, has signed a letter of intent to acquire the assets of Chromcraft-Revington and its related brands.
Under the letter, Amtech will acquire the Chromcraft, Peters-Revington and Cochrane brands.
"As an established leader in the furniture industry for nearly 70 years, Chromcraft's experience in creating customizable, quality residential and commercial furniture will further strengthen Amtech's leadership in delivering high quality products to the consumer and commercial markets worldwide," said James Yang, director of marketing of Amtech. "We look forward to completing this transaction and further expanding Amtech's quality furniture offerings by leveraging Chromcraft's custom, high quality design and Peters-Revington's leadership in the occasional table and entertainment marketplace, and adding resources with the supply and value advantages offered through our China-based operations."
The proposed transaction will represent the third furniture acquisition in the past three years by Amtech. During that time, the company has acquired Douglas Casual Living and Mastercraft.
Ontario, Calif.-based Amtech intends to warehouse and resume some manufacturing operations at Chromcraft's headquarters in Senatobia, Miss.
The transaction is expected to close in early 2015.