EverythingFurniture.com Acquires Competitor KelleyFurniture.com in All Cash Deal
Online furniture retailer EverythingFurniture.com purchases KelleyFurniture.com in all cash deal to increase online presence and eliminate yet another competitor.
Corona, CA (PRWEB) November 7, 2008 -- EverythingFurniture.com grabs its second successful acquisition in 2 years taking out another competitor. Last year the company successfully finished its acquisition of FurnitureParadise.com, and this year yet another successful acquisition by adding KelleyFurniture.com to its stable of web properties, exact terms have not been disclosed.
Prior owner Kelley Maresca quotes the deal as, "A good move for the online furniture market. Everything Furniture and Scott have always been the market leader that will carry my old company in a new and positive direction." Kelley has moved on to another venture in her family's other business selling fasteners in the lucrative commercial arena. Perry and Maresca have been friendly competitors for over 8 years and often consulted each other as their respective businesses grew.
In a very challenging furniture industry environment, Scott and EverythingFurniture.com have dodged the hard times felt among most of the furniture industry by actually having growth in sales and profits while big chain stores like Levitz and Wickes among others have shuttered their doors and no longer exist. Those two powerhouse furniture retailers alone accounted for almost a billion dollars in consumer spending on furniture last year.
CEO / owner Scott Perry attributes their success to running a lean operation that is extremely efficient, flexible and mostly automated. Based on this platform the company has been in the enviable position to snap up competitors and gain market share. Perry added more acquisitions are to follow soon.
By adding the 2 acquisitions EverythingFurniture.com spreads its online presence and at the same time takes out important competitors. Perry adds that both were all cash deals, although the exact terms were not disclosed, they were relative "bargains" he says. The company is debt free and has no partners or venture capital investments, but is still family owned and operated since inception in 2001.
Perry founded and sold OfficeFurniture.com / FurnitureOnline.com in early 1995 before selling it to National Business Furniture in 2000. He is considered the online furniture pioneer for the furniture industry. They are listed in the Internet Retailer top 500 online retailers for 4 years in a row and were also listed in the prestigious INC 500 top 500 privately held companies at an impressive slot of 46 among the top 500.
About Everything Furniture Inc.:
EverythingFurniture.com is an industry leader in selling furniture on the Internet with over 30,000 products available to its customers.
Contact:
Mary Elizabeth, director of public relations
Everything Furniture Inc.
951-372-8090
http://www.EverythingFurniture.com
###
Post Comment:
Trackback URL: http://www.prweb.com/pingpr.php/U3VtbS1Db3VwLVN1bW0tWmV0YS1NYWduLVNpbmctWmVybw==
Bookmark -
Del.icio.us |
Furl It |
Technorati |
Ask |
MyWeb |
Propeller |
Live Bookmarks |
Newsvine |
TailRank |
Reddit |
Slashdot |
Digg |
Stumbleupon |
Google Bookmarks |
Sphere |
Blink It |
Spurl
|
