La-Z-Boy UK has acquired manufacturing capability within Europe with the purchase of Furnico Furniture Ltd.
Upholstery specialist Furnico has manufactured for the world-famous recliner brand since it acquired the La-Z-Boy licence in 2008. Parent company La-Z-Boy Incorporated, headquartered in Michigan, US, reacquired the licence in 2017.
The president of La-Z-Boy International, Keith Wilson, says the deal is a significant milestone, which had come at a crucial time: “The entire team is delighted to welcome Furnico’s 285 employees to the La-Z-Boy family as we launch La-Z-Boy Manufacturing UK Ltd, our only plant presence within Europe.”
“Given the unprecedented issues currently affecting global sea freight, the timing of this deal will reassure our customers of shorter lead times and a dependable supply network.
“I’d like to personally thank everyone who has worked hard on the acquisition process, in particular outgoing Furnico directors David Winter and Paul Riding for their loyalty to our brand and work developing products during their time as licensees. We wish them a happy retirement.”
A significant amount of Furnico’s business was the manufacture of La-Z-Boy product, with the remainder being white labelled to retailers in the UK and Ireland. Unbranded manufacture is set to continue alongside La-Z-Boy-branded product.
Directors David Ellison, Stuart Shackleton and Nigel Ramsey are transitioning over and will continue to lead the business.
The firm intends to continue production from the two factory sites in Lancashire, with plans for a product showroom being discussed for the larger facility. The offices of La-Z-Boy International and La-Z-Boy UK will remain in Maidenhead, Berkshire.
Read more about the brand's progress in October's issue (see related).
Pictured, from left: Paul Riding and David Winter (former Furnico owners); Keith Wilson (president international, La-Z-Boy); Darrell Edwards (senior VP and COO, La-Z-Boy Incorporated); and Bob Lucian (senior VP and CFO, La-Z-Boy Incorporated)