Art Van Furniture Company Sold

After private equity firm thomas h.

Art van furniture company sold.

Founded in 1959 the company is headquartered in warren michigan in metro detroit. Was an american furniture retail store chain. It rose to no. The deal doesn t include those stores real estate most of which was sold off in 2017 as part of the van elslander family s 612 5 million sale of their metro detroit based furniture company to.

Elslander died in 2018. In january 2017 art van announced that the company was being sold to a private equity firm thomas h. Detroit art van furniture is being sold to a private equity firm in boston the company announced wednesday. Lee partners of boston acquired art van in a 612 5 million buyout financed by the company.

The deal is reportedly worth 550 million and is expected to close in february. By the time the firm bought the furniture store there were 100 locations across the. Wolf furniture is set to be sold as the company that owns it art van furniture winds down operations and begins liquidation levin wolf furniture in ohio and pennsylvania will be sold to. 14 on furniture today s top 100 for 2018 based on 2017 estimated furniture bedding and accessory sales of 1 1 billion at 178 combined stores.

On march 5 2020 the company announced it closed all its stores. Art van furniture inc. The warren based furniture retailer was founded by art van elslander in detroit in 1959. Art van made it to no.

The latest case in point is art van a michigan based furniture. Art van furniture will sell itself to a private equity firm after 58 years of ownership by its founder.