Michigan’s Art Van Furniture Being Sold To Boston Company
If you have every opened a Sunday paper or even shopped for new furniture, you know of Art Van Furniture. The Michigan-based company is being sold to a private equity firm in Boston.
The 58-year-old furniture chain is going to be purchased for right around $550 million. After the first store opened in Detroit, is has grown to over 100 stores in five states. As of now, no jobs will be lost and the current leadership with stay the same.
In a statement released by the company,
“The heartbeat of any organization is its people,” said Chairman and Founder Mr. Van Elslander. “I am proud of Art Van Furniture’s history and what we have accomplished. The time for an ownership transition is right and the opportunity presented itself. There is still much I want to do, and I feel confident knowing the company and its people will be in the very best of hands for continued growth and success.”
I hope nothing changes in the store. I just bought all new furniture for there when I moved and it's great.
Source: WNEM TV 5