MONROE, MI - La-Z-Boy Inc. announced it has reached an agreement in principle to sell its Clayton Marcus subsidiary to Rowe Fine Furniture Inc. of McLean, VA. Terms of the agreement, which is expected to be finalized soon, have not been disclosed.
Clayton Marcus, founded in 1960, is a manufacturer of upholstered furniture based in Hickory, NC.
Ken Darrow, president and CEO of La-Z-Boy, said, “While Clayton Marcus enjoys an excellent reputation in the market, the company does not fit with La-Z-Boy’s overall long-term strategy. We are confident that Rowe will be a synergistic owner for Clayton Marcus and that its customers will continue to be well serviced.”
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