La-Z-Boy to Acquire Three La-Z-Boy Furniture Galleries Stores in Las Vegas
MONROE, Mich.-La-Z-Boy intends to acquire three La-Z-Boy Furniture Galleries stores located in the Las Vegas market.
The stores, with combined revenue of approximately $11 million, include two units in Las Vegas and one in Henderson.
The transaction is a result of the planned retirement of the independent dealer, Steve Hueftle, who opened his first La-Z-Boy Furniture Galleries store in 1988. The three stores will become part of La-Z-Boy's retail operation and will bring the total company-owned store count within the retail segment to 96. The deal is expected to close on Sept. 30. Terms of the transaction were not disclosed.