Midpriced upholstery maker T.L. Bayne sold
Investor buys Kentucky producer; founder retiring
Gary Evans -- Furniture Today, December 7, 2007
HARLAN, Ky. — Midpriced upholstery manufacturer T.L. Bayne Co. here has been sold to Chattanooga, Tenn., investor Tommy Caldwell for an undisclosed amount.
Caldwell will take over the 34-year-old company next month as president and CEO, succeeding owner Teddy L. Bayne, who is retiring.
Bayne launched the company in 1973 as Georgia Furniture Mfg., and it 1986 renamed it Fortress Inc. In 1994, the company moved from Georgia to a new plant in Harlan, and was named T.L. Bayne Co.
The company said it sells to 1,450 accounts from Maine to Texas, ranging from small independents to Top 100 stores, with 1,075 accounts active this year. Volume wasn’t disclosed.
T.L. Bayne Co. has about 100 employees and manufactures in a 50,000-square-foot facility. The company does not have a showroom in High Point or Las Vegas but previously maintained a showroom in Atlanta.
“It’s a privilege and an honor to have the opportunity to continue the tradition of building fine furniture under the T.L. Bayne name in Harlan,” said Caldwell. “We intend to grow our business substantially, benefiting our associates, their families and the Harlan community.”
Investor buys T.L. Bayne Co.
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