Kittle’s Completes Sale of Ohio Stores to American Signature

September 29, 2016  by Jane Chero in Business Strategy, Industry   

According to a statement from SSG Capital Advisers, the investment bank that assisted Kittle’s with the deal, Kittle’s wanted to sell its Columbus stores and distribution center in order to focus on its business in Indiana.

“While the Columbus operation was performing well … SSG was retained by the company for the purposes of marketing the Columbus operation and soliciting offers from a select universe of strategic buyers with a compatible corporate culture,” SSG said in a statement. “The offer from American Signature was accepted to maximize value for the company and its stakeholders and assure a bright future for the company's Ohio employees.”

American Signature is a subsidiary of Schottenstein Stores Corp., which operates retail furniture stores under the American Signature and Value City Furniture brand names.