WINNIPEG, Manitoba - Palliser Furniture Holdings Ltd. announced it has reached an agreement to purchase casegoods supplier Casana Furniture Co. Ltd., effective June 30. The acquisition will make Palliser the largest home furnishings manufacturer/supplier in Canada.
Financial details of the transaction were not provided. Along with the Casana line of products, the Winnipeg, Manitoba-based Palliser's brands includes Palliser Upholstery and EQ3.
"This acquisition allows Palliser Furniture Holdings to present a complete lifestyle of products, including a variety of price points and design aesthetics, making us more effective at meeting the needs of our customers," said Peter Tielmann, Palliser president.
Casana originally purchased the import division of Palliser in 2006, according to Casana's website. The Winnipeg-based Casana's contemporary products, which include bedroom, dining room home office and accent furniture, are currently manufactured in Vietnam and Indonesia.
As part of the acquisition, former Casana President Roger Friesen has been appointed executive vice president, Business Development of Palliser Furniture Holdings effective June 1. In this role, Friesen's primary responsibility will be to facilitate growth and development across the Palliser Furniture Group of companies.
Reece Tomlinson will take over as president of Casana Furniture, effective June 19. Tomlinson previously was CEO of Intraline Medical Aesthetics PTE Ltd.
A privately held company, Palliser Furniture Holdings had sales in excess of $150 million in 2016. The firm has been recognzed as one of Canada's Best Managed Companies by program sponsors Deloitte, CIBC, National Post, Smith School of Business and MacKay CEO Forums. Palliser is also listed in the FDMC 300, an annual ranking of the 300 largest cabinet, furniture, millwork, store fixture, office/contract and component producers in North America.
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