Key City adds Greene Bros.
Cindy W. Hodnett -- Furniture Today, October 8, 2012
WILKESBORO, N.C. - Key City Furniture is acquiring fellow North Carolina upholstery manufacturer Greene Bros. Furniture, with the deal expected to be completed in November, company officials said.
The privately held combined companies will support more than 800 active dealers and employ between 80 and 100 people.
Key City will show product from both companies during the High Point Market at Market Square, space I-410 in the Made in America Pavilion. Greene Bros. also produces the Johnston Benchworks brand.
"We will have more than 4,000 square feet of showroom space at High Point," said Chris Reavis, Key City's chief operating officer. "We will show the Key City line, the Jeff Zimmerman and Kim Samela collections and our Coastal Classics collection, in addition to Greene Bros. and Johnston Benchworks. We'll also be showing some contract product for dealers."
Key City specializes in custom and special order upholstered furniture at medium to high end price points for retailers, design showrooms and designers. The line includes sofas, chairs, ottomans, loveseats and other upholstered furniture in a range of sizes, fabrics and styles.
Greene Bros. is an American traditional line of upholstered furniture with mid-range pricing. It started Johnston Benchworks, an upscale line of classic American country upholstered furniture, 22 years ago.
"When Greene Bros. recently decided to sell, Keith contacted Tim Stump (of Stump & Co.), who specializes in selling privately held furniture manufacturers," Reavis said. "Tim knew what Key City was seeking and brought Key City and Greene Bros. together.
"Greene Bros. is located just five miles away from us, and they build a product comparable to ours, but with a classic American country look," Reavis said. "We didn't have that type of product before, and we're planning to go forward with everything Greene Bros. has in their line."
Both companies have a long history in Wilkes County, N.C. Key City was founded in 1927 and Greene Bros. in 1946.
Key City President F.D. Forester III and Greene Bros. President Keith Johnston, both Wilkes County natives, jointly announced the merger of the two privately held companies.
"We at Key City feel fortunate to merge with a well-respected and quality manufacturer like Greene Bros. Furniture," Forester said. "Our plans are to employ as many of Greene Bros.' employees as possible, as extra volume dictates."
Forester said Key City wants to continue supplying Greene Bros.' current furniture retailers. He said Key City will expand its product offerings to both its current retailers and the dealers it adds through the merger.
Production of Greene Bros. and Johnston Benchworks upholstered furniture will continue at the current White Pine Street location in North Wilkesboro until Nov. 21. Starting Nov. 26, the furniture lines will be manufactured at the Key City plant.