96-year-old Southern Furniture acquired by Chinese firm Samson
October 3, 2019 | 9:55 am CDT
CONOVER, N.C. - 96-year-old custom furniture manufacturer Southern Furniture has been acquired by Samson Holding, the parent of Universal Furniture. Southern will be assimilated into Universal Furniture.
“Launched only three years ago, Universal’s current married cover-to-frame upholstery program, produced in our Asia facility, has become a significant percentage of our overall business and continues to be the fastest growing segment of our business,” said Universal Furniture President and CEO Jeff Scheffer. “The acquisition of Southern Furniture affords us the ability to accept special orders, further enhancing our whole home value proposition.”
Universal, founded in 1968, operates under Samson Holding, who is headquartered in China and operates in the U.S., U.K. France, Hong Kong, China, and Taiwan. With annual revenue of close to $500 million, Samson also owns Legacy Classic Furniture, Lacquer Craft Hospitality, and Grand Manor Furniture. Its Chinese manufacturing division is a popular supplier for many American retailers, writes Furniture Today.
“Southern Furniture represents a good strategic fit for Universal,” said Samson Holding Chairman Samuel Kuo. “Both companies share an alignment in product line, price point and quality.”
Southern employees are set to received improved benefits, including health care, dental, vision, and matching 401k.
“We feel confident that Universal is extremely well positioned to continue serving our existing customers and managing our employees,” Jerome Bolick, former CEO of Southern Furniture said. “They’re in good hands.”
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