LADD Furniture, Inc.
Furnishings Industry Transaction
LADD Furniture, Inc.
LADD Furniture, Inc. was a $500 million manufacturer and distributor of residential and contract furnishings. Our relationship with LADD spanned over a decade and involved several corporate finance and research related projects. In 1996, and as part of LADD’s operational and financial restructuring, we advised LADD in connection with the private placement of $190 million of senior notes. Several years later, as this sector of the industry continued to consolidate, we initiated discussions concerning the strategic benefits of a merger with one of the industry’s largest manufacturers, La-Z-Boy, Incorporated. Within two months we advised LADD’s Board of Directors on the merger between LADD and La-Z-Boy. At this time, this acquisition represented one of the largest transactions in the furnishings industry sector. Mann, Armistead & Epperson, Ltd. initiated this transaction, assisted in structuring the offer and advised the Board of Directors.
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