M&A Deal Summary

La-Z-Boy Acquires Kincaid Furniture

On January 6, 1988, La-Z-Boy acquired furniture company Kincaid Furniture from Forstmann Little

Acquisition Highlights
  • This is La-Z-Boy’s 2nd transaction in the Furniture sector.
  • This is La-Z-Boy’s 2nd transaction in the United States.
  • This is La-Z-Boy’s 1st transaction in North Carolina.

M&A Deal Summary
Date 1988-01-06
Target Kincaid Furniture
Sector Furniture
Buyer(s) La-Z-Boy
Sellers(s) Forstmann Little
Deal Type Add-on Acquisition

Target

Kincaid Furniture

Hudson, North Carolina, United States
Kincaid Furniture Co., Inc. is a producer of solid wood dining and bedroom furniture.

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Buyer(S) 1

Buyer

La-Z-Boy

Monroe, Michigan, United States
Category Company
Founded 1927
Sector Furniture
Employees10,200
Revenue 2.0B USD (2024)
DESCRIPTION

La-Z-Boy is a residential furniture producers, marketing furniture for every room of the home. The La-Z-Boy Upholstery segment companies are England and La-Z-Boy. The Casegoods segment consists of three brands: American Drew, Hammary, and Kincaid. The company-owned Retail segment includes 102 of the 317 La-Z-Boy Furniture Galleries store. La-Z-Boy was founded in 1927 and is based in Monroe, Michigan.

DEAL STATS #
Overall 2 of 8
Sector (Furniture) 2 of 7
Type (Add-on Acquisition) 2 of 7
State (North Carolina) 1 of 4
Country (United States) 2 of 7
Year (1988) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1986-09-10 Hammary Furniture

United States

Hammary Furniture Co. is a manufacturer of residential tables and upholstery.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-01 Pilliod Furniture

High Point, North Carolina, United States

Pilliod Furniture, Inc. is a producer of promotionally priced bedroom and occasional furniture at its manufacturing facility in South Carolina.

Buy -

Seller(S) 1

SELLER

Forstmann Little

New York, New York, United States
Category Private Equity Firm
Founded 1978
Size Small
Type Sector Agnostic
DESCRIPTION

Forstmann Little & Co. is a private investment firm focused on investments in aerospace, consumer products/services, communications, technology, education, and healthcare companies. The Firm will consider investments in both public and private companies. Forstmann Little was most active in the 80s and 90s. Despite it's size and history, the Firm does not maintain a website. Forstmann Little was formed in 1978 and is based in New York City.

DEAL STATS #
Overall 2 of 10
Sector (Furniture) 1 of 1
Type (Add-on Acquisition) 1 of 3
State (North Carolina) 1 of 1
Country (United States) 2 of 10
Year (1988) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1986-01-01 Dr Pepper/Seven Up

Plano, Texas, United States

Producer of Dr Pepper soft drink concentrate.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1990-02-14 Gulfstream Aerospace

Savannah, Georgia, United States

Gulfstream Aerospace designs, develops, and manufactures business-jet aircraft. Gulfstream was formed in 1958 and is based in Savannah, Georgia.

Buy $825M
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