La-Z-Boy to Acquire Two Stores in Ohio

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MONROE — La-Z-Boy Inc. today announced it intends to acquire two La-Z-Boy Furniture Galleries stores located in the Youngstown, Ohio market, with combined revenue of approximately $6.5 million.

The stores are located in Boardman and Howland, and are owned and operated by independent dealers Ron and Marisa D’Alesandro, who are retiring. It was mutually decided that transitioning the stores to a subsidiary of La-Z-Boy Inc. would be in the best interest of the employees of both stores. The two stores will bring the total company-owned store count within the retail segment to 98.  The deal is expected to close in mid-November.

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