MONROE, Mich. — La-Z-Boy Incorporated has completed the sale of its American Drew and Kincaid wholesale casegoods businesses to Banner House (formerly Magnussen Home Furnishings, Inc.), a multi-branded portfolio of home furniture. 

The financial terms of the transaction were not disclosed.

The sale, as first reported by Woodworking Network in April , and was part of La-Z-Boy's "portfolio optimization" that will enable it to focus on its core, vertically integrated North American upholstery business and drive its Century Vision strategy, said Melinda D. Whittington, board chair, president and CEO of La-Z-Boy.

“With this transaction, the American Drew and Kincaid brands will continue ... under new ownership, enabling a seamless transition for employees, sales representatives, customers, dealers, and suppliers" she said in April. "And, as La-Z-Boy Incorporated approaches our 100-year anniversary in 2027, we are excited to move ahead as a more focused enterprise to drive value for all stakeholders.”

La-Z-Boy is an FDMC 300-listed company, ranking #14 in 2026. 

Banner House is the new corporate identity that encapsulates a growing portfolio of furniture brands. It debuted at the Spring High Point Show in a 91,000-square-foot showroom. Banner House's product offerings include Magnussen Home, as well as Pulaski Furniture and Samuel Lawrence Furniture, two brands acquired in late 2025.

“Banner House is a new overarching identity representing multiple legacy brands that while distinct, are similar in the emotional connection customers have had with them over decades,” said Nathan Cressman, CEO of Magnussen, now CEO of Banner House. “As the flagship, we see our role, not in changing the brands’ core cultures that meant so much to so many, but in preserving and growing them for generations to come.”

Douglas Townsend, president of Banner House, added that the name was chosen to signify how the company approaches the furniture business, not only with shared operating structures for the brands and the resulting efficiencies, but also with “the shared values of quality, integrity, service and the way we treat people.” Townsend added that the new identity represents “more than a logo, fresh look and new High Point showroom.”

“Banner House is about a shared purpose that is greater than our own,” he said. “It is a unifying flag that people can rally around in tumultuous times.”

La-Z-Boy Incorporated operates as a vertically integrated retailer and manufacturer of residential furniture. The company manages a retail network of over 370 La-Z-Boy stores, including 226 company-owned locations, and operates an online platform. The company’s wholesale segment produces furniture with approximately 90% manufactured in North America. La-Z-Boy also owns Joybird, an omnichannel retailer of modern upholstered furniture operating 15 U.S. stores.

The company employs approximately 11,000 people globally.