Beckmann-led manager group acquires Emerald Home Furnishings from Ritchies
By Powell Slaughter -- Furniture Today, April 7, 2002
TACOMA, Wash. — The management team at case goods importer and bedding manufacturer Emerald Home Furnishings has acquired the company from sole stockholders Evan and Marilyn Ritchie.
David Beckmann, formerly executive vice president, leads the new ownership team, which includes Jeanine Cassino, chief financial officer, and Mark Piatt, vice president of sales. Beckmann now is president, replacing Evan Ritchie.
Emerald, which has annual sales of $38 million, is a 40-year-old company previously known as B&D Sales. Emerald designs case goods for manufacture in Asia and produces mattresses and box springs under the Perfect Rest label.
Ritchie will continue as a consultant to the new owners. He also will handle Emerald's distributor channel.
"I'm just too much of a worker to retire and play golf every day, but I probably won't be working those 50- to 60-hour weeks anymore," Ritchie said. "It's time for my wife and kids and I to spend some time together."
Emerald has a 200,000-square-foot distribution center in Tacoma, and does a sizable direct container business with retailers across the country. The company has showrooms in High Point and San Francisco, and a showroom in Tacoma, where it hosts an open house each March and a charity golf classic and open house in September.
"This will be business as usual," Beckmann said. "Our company is strong and well financed. The amount of outside financing is relatively small. We look forward to a healthy growth curve in the future."
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