Investor buys T.L. Bayne Co.
Gary Evans -- Furniture Today, January 27, 2008
Harlan, Ky. — Midpriced upholstery manufacturer T.L. Bayne Co. here has been sold to Chattanooga, Tenn., investor and business owner 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 in 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 has a good name and a quality product, so a lot of the work has been done for us," said Caldwell, a longtime floor covering executive and lately involved in residential and commercial real estate and construction. "Our plan is to be absolutely the best partner we can be to our retailers."
He said he plans to grow sales in existing and new territories, and continue to update the line. The company also plans a larger Internet presence and intends "to do a better job marketing ourselves. We need to tell our story, loudly and clearly."
At one time the company exhibited in Atlanta, but currently isn't showing in High Point or Las Vegas. That could change, Caldwell said.
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Midpriced upholstery maker T.L. Bayne sold
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