La-Z-Boy to purchase 9 Furniture Galleries
8/15/2012MONROE, Mich. -- La-Z-Boy Inc. said Tuesday that it plans to buy nine La-Z-Boy Furniture Galleries stores and a distribution center in Ohio from their current owners.
The company said the transaction was the result of the planned retirements of two owners.
The stores -- four in Cincinnati, three in Columbus, and two in Dayton -- had a combined revenue of about $30 million in 2011, the company said.
The stores will become part of La-Z-Boy's retail operation and bring the total of company-owned stores to 94.