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Elite Leather acquires Hiatt Furniture

Upholstery makers showing at Las Vegas Market

Gary Evans -- Furniture Today, August 2, 2010

LAS VEGAS — Leather upholstery manufacturer Elite Leather has acquired upholstery maker Hiatt Furniture and the two companies are combining forces in the same showroom here as the Las Vegas Market opens today.

The sale was finalized last week. Both are domestic manufacturers based in California.

At market, the companies are showing in Hiatt's former World Market Center space, A-954.

According to a news release, manufacturing operations will be consolidated in Elite Leather's Chino, Calif., facility this month. The Hiatt brand name will be retained. Design of the line will be a collaborative effort between the two companies' design teams.

"I have known Hiatt Furniture President Hans Hiatt and his family for many years, and I'm very pleased to bring them into the Elite Leather family," said Elite Leather President and CEO Michael Garlardo. "This acquisition will translate to great things for Hiatt Furniture, their customers and Elite Leather.

Hiatt, grandson of company founder Hayden H. Hiatt, praised the company's new parent for its quality, service and integrity. "I believe that the combined companies will make a strong partnership and yield great results," he said.

Hans Hiatt will continue to be involved with the growth of Hiatt Furniture, which will include working with Hiatt customers to provide new furniture styles, fabric options and leather product offered by Elite Leather.

Stump & Co., a Charlotte, N.C.-based investment banking firm, represented Hiatt in the transaction. Terms were not disclosed.

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