Leggett & Platt sells 3 fixtures factories

Furniture Today Staff //Staff Editors//November 22, 2014

CARTHAGE, Mo. — Leggett & Platt, a supplier of furniture and bedding components, announced last week it had sold three of the five factories in its store fixtures unit for $62 million.

The company said the buyer, Omaha, Neb.-based Lozier Corp., is an industry leader in the design and production of store fixtures, which include metal and wood shelving, counters and display cases.

The factories that are part of the sale are in Middlebury, Ind., Fort Worth, Texas, and Union, Mo., and represent about 75% of the annual revenues for the store fixtures unit, the company said.

Leggett announced in July that it was considering the sale of the unit, and it was classified as discontinued operations in the company’s third-quarter financial statement. The company said the recent sale would result in a loss of about 4 cents per share from discontinued operations in the fourth quarter.

Leggett said it is continuing to pursue the sale of its two remaining store fixtures factories.

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