Daily News

From Home Furnishing Business

Hooker Furnishings Announces Completion of Sale to Magnussen Home

December 16, 2025  by Karen Parrish in Business Strategy, Industry   

“Completing this transaction marks a significant milestone in our journey toward enhanced profitability, and we are pleased to complete the transaction at a higher price than initially estimated,” said Jeremy Hoff, CEO of Hooker Furnishings. “We are moving ahead with positive momentum after delivering a modest improvement in sales and margins within Hooker Branded and Domestic Upholstery for the fiscal third quarter, and we are excited for the significant opportunity ahead with our Margaritaville licensed collection. We look forward to creating value for shareholders, including through the opportunistic repurchase of shares in connection with our new share repurchase program, and to capturing the potential of our more focused business as we move into the next calendar year.”

As previously announced ten percent of the purchase price is subject to a holdback for 210 days for customary indemnification and final purchase price adjustments. The Company also shed approximately $4.8 million in HMI showroom lease liabilities and related expenses, as Magnussen assumes the lease of HMI’s High Point showroom.

Stump & Company served as financial advisor to the Company and McGuireWoods LLP served as legal advisor to the Company in connection with the sale transaction.