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Duff & Phelps Advised Home Meridian International on its Sale to Hooker Furniture Corporation
Hooker Furniture Corporation (“Hooker”) has completed the purchase of the business of Home Meridian International, Inc. (“HMI”) for approximately $100 million. According to Hooker, the combination will create one of the top five sources for furniture in the United States. The transaction closed on February 1, 2016.
Duff & Phelps served as exclusive financial advisor to HMI in connection with the sale transaction.
HMI is the parent company of five business units including Pulaski Furniture, Samuel Lawrence Furniture, Samuel Lawrence Hospitality, Prime Resources International and Right 2 Home. In addition, Sourcing Solutions Group and Right 2 Home provide customized and proprietary products and services to HMI partners. HMI has a unique business model, which allows the company to create global sourcing solutions for major customers and multiple channels of distribution. HMI has consistently been recognized as an industry leader in sales gain and growth. Headquartered in High Point, N.C., HMI has distribution centers on both coasts and Asian operations in China, Vietnam and Malaysia.
Ranked among the nation's top 10 largest publicly traded furniture sources based on 2014 shipments to U.S. retailers, Hooker is a residential wood, metal and upholstered furniture resource in its 91st year of business. Hooker’s major casegoods product categories include home entertainment, home office, accent, dining, and bedroom furniture primarily in the upper-medium price points sold under the Hooker Furniture brand. Hooker’s residential upholstered seating product lines include: Bradington-Young, Sam Moore Furniture, and Hooker Upholstery.The Homeware product line offers direct-to-consumer, customer-assembled, modular upholstered and casegoods products. The H Contract product line supplies upholstered seating and casegoods to upscale senior living facilities.