Keller plans acquisition
By Furniture Today Staff -- Furniture Today, January 1, 2006
Louisville, Ky. — Keller Mfg., which exited the furniture business in early 2005, has signed a non-binding letter of intent to acquire a majority stake in an unidentified manufacturing business in the Louisville area.
The company said the transaction should close during the first quarter, assuming a definitive purchase agreement is signed. The purchase price would be approximately $1.14 million.
Company officials declined to reveal the potential acquisition's identity or its product.
Until January 2005, Keller was a manufacturer and importer of solid wood bedroom, dining room and occasional furniture. Hit hard by competition from imports, the company closed the last of its U.S. manufacturing plants in late 2004, selling a factory in New Salisbury, Ind., to Child Craft Inds.
A few weeks later, the company said it was exiting the furniture industry and would look to acquire another business.
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Keller to acquire manufacturer
Dec 29, 2005
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