Hollywood Bed & Spring Mfg. Acquires Linwood Hospitality from Leggett & Platt

LEXINGTON, North Carolina Hollywood Bed & Spring Mfg Co. acquired the Linwood Hospitality division of Leggett & Platt Inc. for an undisclosed price.

Hollywood Bed & Spring said the purchase of the Lexington, North Carolina-based company was increasing its leading market share in the hospitality and contract markets.

The combination of Hollywood Bed and Linwood Hospitality will benefit our new and existing customers with an expanded product portfolio and distribution centers on the West and East Coast, said Jason Harrow, President. This acquisition will allow us to continue our constant growth and to implement our strategic plans to further strengthen the long-term future of our business. We are delighted to welcome the employees of the Linwood division, as their experience and knowledge of the market will be a positive addition to the Hollywood Bed family.

Hollywood Bed said it would use the Linwoods plant in North Carolina to leverage its broad product line and manufacturing capabilities to provide an expanded product line and a national presence to its customers.

Following the acquisition, Larry Leeb, former vice-president of sales and marketing for the hotel division, was appointed director of revenue. He reports to Harrow.

Phillip Herrin, formerly Vice-President of Business Development for the Home Furnishings Division, has been appointed Vice-President of Sales and Marketing for the Hospitality and Contracts Division, and Jonathan Mullinax, Vice-President, Sales and furniture division marketing will continue its role. Both Herrin and Mullinax will report to Leeb.

Nishen Radia, of FocalPoint Partners, provided financial advisory expertise, and Jordan Hamburger, of Sheppard, Mullin, Richter & Hampton, acted as legal counsel to Hollywood Bed during the transaction.

My name is Tom Russell and I have been working at Furniture / Today since August 2003. Since then, I have been covering the international side of the business from a logistics and supply point of view. Since then, I have also visited several furniture fairs and manufacturing factories in Asia, which has helped me to better understand the sector in this part of the world. As I continue to cover the import side of the business, I look forward to developing this knowledge base through conversations with industry representatives and future factory tours abroad. From time to time, I will post news and other industry insights online and, as always, welcome your response to these web messages.