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Sutter St. furniture to open Mississippi
plant, add 350 jobs
Sutter St. Mfg., an upholstered furniture manufacturing subsidiary of Williams-Sonoma, will open a new manufacturing
facility in Baldwyn, Mississippi.
Production of the plant, which will replace an existing
facility, will begin in January and will enable the creation of
350 jobs over the next five years. Workers will be hired immediately.
“Our direct-to-consumer model enables us to offer cus-
tom upholstered furniture at an exceptional value and as a
result, our business has grown significantly in recent years,”
said Williams-Sonoma Executive Vice President and COO
Dean Miller in a release. “We’re excited to bring 350 jobs to
the region and further our commitment to supporting the
tradition of building hand-crafted, high-quality furniture in
The facility will produce upholstered furniture for
Williams-Sonoma brands like Pottery Barn, Pottery Barn
Kids, PBteen, West Elm and Williams-Sonoma Home.
Armstrong sells wood
flooring business for
Armstrong Flooring Inc. is departing the wood flooring business.
The floor coverings giant has entered into a definitive agreement
to sell its wood flooring segment
to an affiliate of American Industrial Partners for $100 million.
The segment, which includes the
Bruce and Homer Wood brands,
Kentucky, Missouri, Pennsylvania,
Tennessee and West Virginia. The
segment, which has approximate-
ly 1,700 employees, posted net
sales of $432.8 million in 2017.
According to a statement
by Armstrong Flooring (NYSE:
AFI), the transaction is expected
to be completed by the end of
fourth quarter 2018, subject to
customary closing conditions.
Announced Nov. 14, the sale is
valued at approximately 7. 2 times
the wood flooring segment’s trail-
ing 12 month adjusted EBITDA,
Armstrong said. The net pro-
ceeds from the transaction after
purchase price adjustments are
non-taxable and expected to be
$85 to $90 million.
Armstrong said it will use the
funds to “invest in growth strategies
and other value-enhancing opportunities,” in the resilient flooring
segment, including luxury vinyl tile
and vinyl sheet. “The wood flooring industry has been impacted by
changing market dynamics and
now is the right time to deepen
our focus on LVT and other resilient
flooring categories, where we are
confident fundamentals remain
strong for future growth,” said
Armstrong CEO Don Maier.