Decca to acquire Classic Gallery
Custom upholstery maker is based in HP
Heath E. Combs -- Furniture Today, March 30, 2007
AT THE MARKET — Decca Holdings, a Hong Kong-based residential and contract furniture maker, is set to acquire the assets of custom upholstery maker Classic Gallery.
Classic Gallery has done some manufacturing for Decca’s contract and hospitality division, and also will make Decca’s residential line at its factory in High Point, said current owner Charlie Greene, who will remain president after the acquisition.
Greene said that from both a logistics and quality standpoint, Decca would be better served with contract upholstery made in the United States. Decca’s case goods and wood furniture parts manufacturing will remain in China.
The deal is expected to close in early May. Terms weren’t disclosed.
According to Decca’s 2006 annual report, the United States was its largest market, accounting for 60% of total revenue. The company recorded record revenues of about $62 million in the fiscal year ended in March 2006, primarily from its U.S. hospitality division, the architectural fixtures and projects division, and the Asia custom furniture division.
The report said that during the year, Decca purchased Boiler and Co., a residential case goods and upholstery company with a showroom here at 311 N. Hamilton St.
Decca doesn’t show in High Point under its own name, but has showrooms in London and Paris. Decca also has a manufacturing facility on Ward Street in High Point, Greene said.
With its purchase of Classic Gallery, Decca is following in the footsteps of Lacquer Craft, a Chinese company which owns Universal and Legacy Classic, and that last year acquired U.S. upholstery maker Craftmaster Furniture, making it a wholly owned subsidiary.
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China's Decca Holdings to acquire Classic Gallery
Apr 22, 2007
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