From Home Furnishing Business
Report: Ashley Furniture Considers Sale
The furniture industry’s largest company Ashley Furniture Inds. is considering a sale, according to a report in today’s Wall Street Journal.
Ashley Furniture Industries Inc. is exploring a sale that could value the big Wisconsin furniture maker at more than $3 billion.
The family-owned company is working with investment bank Goldman Sachs Group Inc. on the process, which is in an early stage, according to people familiar with the matter. It is possible it won’t lead to a sale of the company.
A number of big private-equity firms are weighing a buyout of Ashley, some of the people said.
Ashley, founded in 1970, is one of the largest furniture manufacturers in the world. The company, known for its affordable wares, designs and builds beds, sofas and living-room sets that are sold through more than 560 of its stores as well as those of other retailers.
Read Entire Story Source: Wall Street Journal