On February 28, 2018, Big Lots, Inc. announced that it had acquired U.S. Furniture Holdings, Inc., the parent company of well-known furniture brands including Broyhill, Lane, and Thomasville. This move comes as something of a surprise, as Big Lots is primarily known as a discount retailer, while U. Furniture Holdings is known for its high-end furniture brands. However, Big Lots has been increasingly focusing on its furniture business in recent years, and the acquisition of U. Furniture Holdings will help to solidify its position in this market.
Founded in 1932, U. Furniture Holdings is one of the oldest and most well-established furniture companies in the United States. Its brands are some of the most recognizable in the industry, and its products are known for their quality and craftsmanship. With the acquisition of U. Furniture Holdings, Big Lots now has a portfolio of high-end furniture brands that it can offer to its customers.
The acquisition of U. Furniture Holdings is just the latest in a series of moves that Big Lots has made to bolster its furniture business. In 2017, the company acquired Grand Home Furnishings, a regional chain of furniture stores with locations in the mid-Atlantic region of the United States. This move gave Big Lots a significant presence in this important market.
Big Lots has also been investing heavily in its e-commerce capabilities, and this has been paying off for the company. In 2017, online sales at Big Lots grew by more than 30 percent, and this trend is expected to continue in 2018.
With the acquisition of U. Furniture Holdings, Big Lots is now one of the largest furniture retailers in the United States. The company is well positioned to compete against other major players in this market, such as Ashley Furniture and IKEA.
The furniture company that Big Lots bought was U..
