Starbay, Halo end partnership discussions
Thomas Russell -- Furniture Today, June 3, 2011
ATLANTA — Starbay and Halo announced today that they have terminated their discussions on a partnership agreement that would have resulted in Halo acquiring a minority ownership stake in Starbay.
The companies, which showed product together at home furnishings shows in Singapore and High Point earlier this year, announced in March that they were in negotiations. As part of the deal, Halo also would have distributed Starbay's products in certain markets.
Both companies said the decision to end their negotiations was amicable. Officials did not reveal further specifics about why the transaction was not completed.
The companies added that the decision now allows them to pursue other opportunities.
"There is no particular reason other than the fact the two companies had other opportunities they wanted to pursue," said Mark Hafer, president of Atlanta-based Starbay. "The two owners have a pretty amicable relationship and a great deal of regard for each other, and I am sure we will continue that amicable relationship. But at this point here were just other opportunities to pursue other than a joint venture agreement."
Hong Kong-based Halo produces an eclectic mix of case goods, upholstery and accent pieces. Mixed media elements such as leather and metal give much of the line an industrial look.
Starbay's line includes British Colonial, Campaign era-inspired case goods. Much of the line has been inspired by luxury ocean liners.
Hafer said the agreement to terminate negotiations does not affect Starbay financially. At the Atlanta market in July, it plans to launch a 45-piece case goods collection called Avant Garde that is made with American black walnut solids and veneers. It also plans to show this collection in High Point in the fall.
Officials from Halo were not available for immediate comment.
-
Starbay, Halo End Partnership Discussions
Jun 16, 2011
VIEW ALL GALLERIES
