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Joybird has sales of $55m and specialises in mid-century modern upholstery
Furniture maker La-Z-Boy has agreed to buy Joybird, a fast-growing American Internet retailer specialised in mid-century modern upholstery.

 

The deal — terms of which were not immediately disclosed — widens La-Z-Boy's appeal among a younger demographic and gives Joybird greater production capacity.


"It will allow us to better reach millennial and Gen X consumers, leverage our supply chain assets and provide us with a greater presence online," said La-Z-Boy chairman, president and CEO Kurt Darrow.


Since being founded by four friends in 2014, California based Joybird has built annual sales to $55 million (£42m), with product manufactured out of its factory in Tijuana, Mexico.


Following the takeover, operations will be augmented by La-Z-Boy supply chain capabilities which include procurement and manufacturing, the company said in a statement. The four co-founders will continue to lead the business.


Christopher Stormer, Joybird co-founder, said: “Joining forces with La-Z-Boy will be a strategic game changer for our company as it will provide access to resources and additional capacity.


"We started Joybird with small investments from family and friends and enjoyed rapid growth over the past four years. However, to expand our business further, we need the additional capabilities that La-Z-Boy is providing, including its amazing supply chain with nationwide delivery capabilities. Joining La-Z-Boy provides us with the ability to become the leading online destination for unique, modern and contemporary furniture."