Daily News
From Home Furnishing Business
Flexsteel Industries, Inc. Announces Agreement to Repurchase Stock
April 27,
2026 by Karen Parrish in Business Strategy, Industry 
Flexsteel Industries, Inc., one of the largest manufacturers, importers, and marketers of residential furniture products in the United States, announced that it has entered into an agreement to repurchase approximately 1.28 million shares of its common stock at $47.00 per share from certain members of the Bertsch family, one of the Company’s founding families, in a privately negotiated transaction.
The shares to be repurchased represent approximately 24% of the Company’s outstanding common stock for an aggregate purchase price of approximately $60.2 million. The purchase price represents a 2.5% discount to the closing share price on April 24, 2026.
"This transaction aligns with our balanced capital allocation strategy and commitment to enhancing long-term shareholder value," said Derek Schmidt, President and CEO. "We will continue to maintain a strong balance sheet and resilient operating model, and we believe Flexsteel is well positioned to execute our strategy, invest in organic growth initiatives and drive long-term shareholder value."
Schmidt added, "Flexsteel is grateful for the support of the Bertsch family over multiple generations, and we deeply appreciate their many contributions to our success."
"As our family has grown and expanded over multiple generations, we have decided to diversify our holdings for financial planning purposes," said Brooks Bertsch, Flexsteel director and representative of the Bertsch family. "We are confident that Flexsteel is in a strong position and will continue to build on its success well into the future. It is an honor for our family to have grown as part of Flexsteel for over 130 years and the company will always hold a special place in our family’s heart."
The transaction will be funded through a combination of existing cash and borrowings under the Company’s revolving credit facility and is scheduled to close on April 28, 2026. Following the transaction, the Company expects to maintain a strong balance sheet and liquidity position.
The transaction was reviewed, negotiated and approved by a special committee of independent directors, and subsequently approved by the full Board of Directors, excluding Brooks Bertsch. The Special Committee was advised by independent legal and financial advisors.
Brooks Bertsch will resign from Flexsteel’s Board of Directors upon the close of the transaction.