Art Van Furniture Company Sold

After private equity firm thomas h.

Art van furniture company sold.

Was an american furniture retail store chain. By the time the firm bought the furniture store there were 100 locations across the. Art van furniture will sell itself to a private equity firm after 58 years of ownership by its founder. Loves furniture a newly formed royal oak based company has purchased the assets of 27 art van stores and will reopen under the new company name in michigan and five other states.

Detroit art van furniture is being sold to a private equity firm in boston the company announced wednesday. The latest case in point is art van a michigan based furniture. The deal is reportedly worth 550 million and is expected to close in february. It rose to no.

In 2017 the company was sold to boston based thomas h. Lee partners of boston acquired art van in a 612 5 million buyout financed by the company. The warren based retailer on wednesday announced a tentative deal to sell to thomas h. Art van furniture inc.

Wolf furniture is set to be sold as the company that owns it art van furniture winds down operations and begins liquidation levin wolf furniture in ohio and pennsylvania will be sold to. On march 5 2020 the company announced it closed all its stores. The deal doesn t include those stores real estate most of which was sold off in 2017 as part of the van elslander family s 612 5 million sale of their metro detroit based furniture company to. The warren based furniture retailer was founded by art van elslander in detroit in 1959.

Art van made it to no. 14 on furniture today s top 100 for 2018 based on 2017 estimated furniture bedding and accessory sales of 1 1 billion at 178 combined stores.