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Samson Holding to Acquire Baker, Milling Road, McGuire
Samson officials said the three brands target the luxury niche of the market and will serve as a complement to other Samson companies which compete in the middle and upper price point segments of the home furnishings industry.
The company said the newly acquired brands will continue operating out of their offices and facilities in North Carolina and Indonesia, as well as showrooms in North America, England and France. The acquisition does not have any direct impact on any Samson Marketing companies or departments in the High Point, N.C., corporate office.
“We are thrilled to have found a buyer who appreciates our rich legacy of superior quality and exquisite design, and can support Baker, Milling Road and McGuire in achieving their full long-term potential,” said Russell Towner, the president of Baker, who will continue to manage the business under Samson ownership. “Samson has had a consistent and successful track record in the home furnishings industry and we believe this move positions us for future success.”
Terms of the acquisition were not disclosed, but Samson officials said the closing date is set for Feb. 28.
Baker Furniture, which includes Milling Road, was founded in 1890 and has been a hallmark of design excellence and uncompromising quality. Old World craftsmanship, attention to detail and custom-selected materials are consistently applied to create fine furniture with a classic sensibility.
McGuire furniture was founded in 1948 and is known for creating classic and casual furniture of the finest materials. Rattan, leather and wood furniture pieces are crafted by trained artisans who bend, weave and form chairs, tables and accessories by hand.
Founded in 1999, Samson Holdings employs more than 800 people, and is headquartered in High Point. The company operates offices and facilities in High Point and Taylorsville, N.C.