DivestmentApr 21, 2026, 04:17 PM
La-Z-Boy Sells American Drew & Kincaid Casegoods Businesses
AI Summary
La-Z-Boy Incorporated announced the sale of its American Drew and Kincaid wholesale casegoods businesses to Banner House. This divestment aligns with La-Z-Boy's strategy to focus on its core, vertically integrated North American upholstery business and advance its Century Vision strategy. The transaction is subject to customary closing conditions and is expected to finalize in mid-May.
Key Highlights
- La-Z-Boy sells American Drew and Kincaid wholesale casegoods businesses.
- Businesses sold to Banner House (formerly Magnussen Home Furnishings, Inc.).
- Transaction expected to close in mid-May.
- La-Z-Boy to focus on core North American upholstery business.