HIGH POINT, NC — Residential furniture manufacturer Lexington Home Brands announced Monday it has reached a definitive agreement to acquire Sligh Furniture Co.
The transaction, set to close in October, will give the High Point, NC-based Lexington a presence in the home office and home entertainment markets. Financial terms of the deal were not disclosed.
Based in Holland, MI, Sligh Furniture was founded in 1880 and is known for its home office and home entertainment products. The company has won seven Pinnacle Awards for outstanding design from the American Society of Furniture Designers.
"While our lifestyle collections currently include a broad assortment of home office and home entertainment products, the addition of Sligh to our brand portfolio will position us to become a core vendor in these categories for our dealers," Phil Haney, president and CEO of Lexington Home Brands said in a statement.
Rob Sligh, the fourth-generation president of Sligh Furniture, will continue in that role under the new ownership structure with Lexington. He will also take on additional executive management responsibilities as senior vice president of business development for Lexington Home Brands and will be based out of the company’s corporate office.
According to WHTC in Holland, Sligh's operations had shrunk to six staffers in Holland. The Sligh product line will be stocked and shipped out of the Lexington distribution complex in North Carolina. Product development, marketing, customer service and credit functions will be managed from the Lexington corporate center. Lexington Home Brands also includes Tommy Bahama Home, Trump Home and Henry Link Trading Co.
In addition to the residential market, Lexington Home Brands also supplies furnishings for the hospitality and contract marketplace worldwide. Headquartered in High Point, NC, with showroom facilities in High Point and Las Vegas, Lexington Home Brands is privately-held by Sun Capital Partners Inc., based in Boca Raton, FL.