La-Z-Boy Plans to Divest American Drew, Kincaid Wholesale Casegoods Units

La-Z-Boy plans to divest American Drew, Kincaid wholesale casegoods units

La-Z-Boy Inc. announced Tuesday plans to sell its American Drew and Kincaid wholesale casegoods businesses to Banner House in a transaction projected to close in mid-May.

Breaking News: Banner House to acquire Kincaid, American Drew from La-Z-Boy

Brands will be positioned at the top of the company’s line that now includes Magnussen, SLF and Pulaski HIGH POINT — In a move aimed at further boosting its position as a go-to case goods resource, Magnussen Home parent Banner House has signed an agreement to purchase the American Drew and Kincaid brands from La-Z-Boy.  When the deal is completed around the middle of May, these brands will add to its product mix that includes Magnussen along wit…