Categories: Deal Announcements, Stump & Company | Published: Mar 15th 2021
March 15, 2021
Los Angeles, CA & High Point, NC
STUMP & COMPANY SERVED AS EXCLUSIVE FINANCIAL ADVISOR TO BRAXTON CULLER
Classic Home, Inc. announced today that it has acquired 100% of Braxton Culler, Inc., a leading manufacturer of higher end upholstery and occasional wood furniture based in High Point, NC. Classic Home is a Los Angeles based designer, importer and marketer of lifestyle furnishings, and the acquisition of Braxton Culler is its first entry into domestic US manufacturing of upholstery.
Harpal Singh, founder and CEO of Classic Home, commented he was excited to announce this new venture that will transform both the Classic Home and Braxton Culler businesses. “When we saw the products, and the quality and fashion involved, then met Mr. Culler, and saw the tremendous manufacturing capabilities, I knew this was a perfect match for Classic Home. Braxton runs a wonderful business based on ‘doing things the right way’ and providing a fashionable product with quality, value, and top-notch customer service.”
Mr. Culler, founder and CEO of Braxton Culler, noted that he was very pleased with this transaction, and he felt the long-term benefits for his management and employees were significant. “Classic Home is a strong furniture player and needs what my company has in domestic upholstery. We have been making quality furniture since 1975, and we are pleased to partner with Harpal and his team to continue building our brand as well as helping Classic grow in our category.” Mr. Culler will remain with the business as CEO for a transition period.
Both companies will continue to operate under their own brand, with Braxton Culler showing in its destination 28,000 sf showroom in downtown High Point on Elm Street. Classic Home will move into its new 35,000 sf Showplace showroom for the 2021 Premarket and the June High Point Market, as well as its traditional location in Building C in Las Vegas.
ABOUT CLASSIC HOME
Classic Home is a leading furnishings provider to lifestyle stores internationally, with integrated manufacturing globally with a focus on design, craftsmanship and sustainable production. Based in Los Angeles, CA, Classic Home is privately held and strives to ‘reshape and refine vision for what inspired spaces can be.’ The company was founded over 30 years ago by Harpal Singh, and today employs over 5,000 people worldwide.
ABOUT BRAXTON CULLER
Founded in 1975 by Mr. Braxton Culler, the company has been making quality furniture for nearly 50 years and is today a leading importer and manufacturer of upper end lifestyle and coastal living upholstery, occasional furniture, casegoods and outdoor collections. The company is based in High Point, NC and operates from a 450,000 sf facility on 40 acres, with over 125 skilled employees. Braxton Culler, Inc. is known for its fashionable fabric selections, custom upholstery options and coordinated wood furniture for indoor and outdoor living.
ABOUT STUMP & COMPANY
Based in Charlotte, NC Stump & Company is the leading boutique investment bank providing mergers and acquisitions advisory services to companies in the furniture and home furnishings industry. Stump & Company has served as exclusive financial advisor on over 400 transactions in this sector. Founded in 1972, the firm remains a family business currently led by its second and third generations.
Coming Up Next
The Stump team is excited to continue its work in 2021, and has a number of exciting new deals it is marketing in Q2 and Q3 across a span of industry verticals:
We will be marketing:
- Additional domestic upholstery manufacturers
- Fast-growing E-Commerce companies (both wholesale/platform resources and DTC brands)
- Higher-end luxury hospitality/contract brands
Sound interesting? Give us a call, we would love to discuss acquisitions that could be a fit!
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