Daily News
From Home Furnishing Business
Banner House Announces Agreement to Acquire Case Goods Brands
April 22,
2026 by Karen Parrish in Business Strategy, Industry 
Banner House, formerly Magnussen Home Furnishings, Inc., announced that it signed an agreement to acquire the Kincaid and American Drew case goods brands from La-Z-Boy Incorporated. The transaction comes on the heels of Banner House’s recent acquisition of Pulaski Furniture and Samuel Lawrence Furniture, brands formerly part of Home Meridian International (HMI), from Hooker Furnishings Corporation.
The deal is expected to close in mid-May. Employees of both La-Z-Boy divisions will be joining Banner House. Tim Annas, who has been with the company for 35 years, will remain vice president of product development, and Peter Blackwell, who has been with the company for 17 years, will continue as vice president of sales for the newly acquired companies. Financial terms of the transaction were not disclosed.
“These acquisitions are uniquely positioning our company when it comes to prices and styles by bringing together established, storied brands that resonate with retailers and their customers,” said Banner House Chief Executive Officer Nathan Cressman. “We can now offer our customers a real competitive advantage by selecting a variety of products within a broad range of price points and from well-known brands that can be efficiently and effectively delivered to their docks. We are very excited about this opportunity.”
According to Banner House President Doug Townsend, the company has been able to benefit from industry consolidation, particularly from publicly traded furniture companies looking to shed brands that no longer fit with their core strengths.
“Magnussen always had a reputation for quality, design and integrity that has made us a very attractive buyer for brands like this. Sellers know how we nurture our brands, people and customers and they know we will take these brands and continue to invest in their growth,” he said. “This is a good time for us to be in the market to add brands to our portfolio to give our dealers and their customers more choices.”
As part of the Banner House strategy, each of the brands has its own internal champion and sales strategy leader. As such, Page Wilson, senior vice president of Pulaski and Samuel Lawrence brands, will take responsibility for Kincaid and American Drew, working closely with Annas and Blackwell on developing sales and product growth strategies.
“We are already seeing positive customer feedback in only a short time with Pulaski and Samuel Lawrence, so we will quickly look to incorporate Kincaid and American Drew into our product portfolio in the weeks ahead,” Townsend said.
American Drew and Kincaid case goods products will continue to be available to wholesale customers in their current IHFC showroom at the Spring High Point Market later this month. Executives and sales representatives will be on hand to meet dealers and support the transition. “Look for something very exciting at the Fall High Point Market when all five of our brands will feature new designs and styles at Banner House’s new 91,000 square-foot showroom at 220 Elm St,” Townsend added.
“Banner House is a great place for our companies to land. We are looking forward to being a part of an organization that is committed to investing and growing our case goods brands, and one that brings strong resources to the table to assure success,” said Annas.
Banner House is a growing family of storied brands offering expertly crafted bedroom, dining, occasional, home entertainment and home office furniture. Known for design leadership, product quality, and value, the company blends traditional craftsmanship with a global sourcing network to serve retailers across North America.
Stump & Company, a Charlotte, NC based investment banking firm, initiated the transaction and acted as financial advisor to La-Z-Boy Incorporated.