Monroe, Mich. — La-Z-Boy Incorporated, a global leader in the retail and manufacture of residential furniture, has signed an asset purchase agreement to acquire a La-Z-Boy Furniture Galleries® store network in the southeastern United States from Atlanta Furniture Galleries, LLC, owned by Tom and Amy DeGoey.
The DeGoey business is the second-largest independent operator within the entire La-Z-Boy Furniture Galleries® store network, with 15 stores, four warehouses and approximately $80 million in annual sales.
The acquisition will provide continuity for the highly successful Southeast-based business. Once complete, the 15 stores will become part of La-Z-Boy Incorporated’s retail reporting segment, will be immediately accretive to sales and profits, and will bring the total company-owned store count to 220 — 60% of the entire La-Z-Boy Furniture Galleries® store network. The transaction is expected to close in late October 2025, subject to customary closing conditions.
“We are pleased to acquire this business in the rapidly growing and strategic Southeast region,” says Melinda D. Whittington, board chair, president and CEO of La-Z-Boy Incorporated. “These stores are in core markets for us, including Atlanta, Orlando, Jacksonville and Knoxville, and will pave the way for additional growth. We are grateful to Tom and Amy for their commitment to the company over the last two decades, developing one of the most successful independent La-Z-Boy licensee businesses. As strong stewards of our La-Z-Boy brand, they have made meaningful contributions, including innovative retail practices, an updated store network and a strong group of employees. I would like to personally take the opportunity to thank Tom, who has led the business since 2004 and, along with Amy, was recognized in 2024 as our Retail Partner of the Year for the second time. We wish Tom, Amy and their family all the best in their next phase of life.”
The transaction is expected to be funded with cash on hand. Additional terms of the deal were not disclosed. La-Z-Boy Incorporated will provide additional financial information relating to the transaction in its fiscal year 2026 second-quarter results in November 2025.
The founders of La-Z-Boy Incorporated invented the iconic recliner in 1927. Today, the company operates as a vertically integrated furniture retailer and manufacturer. The retail segment consists of over 200 company-owned La-Z-Boy Furniture Galleries® stores and is part of a broader network of nearly 370 La-Z-Boy Furniture Galleries® that, with www.La-Z-Boy.com, serve customers nationwide. Joybird®, an e-commerce retailer and manufacturer of modern upholstered furniture, has 13 stores in the U.S. In the wholesale segment, La-Z-Boy manufactures comfortable, custom furniture for Furniture Galleries® and a variety of retail channels, England Furniture Co. offers custom upholstered furniture, and casegoods brands Kincaid®, American Drew® and Hammary® provide pieces that make every room feel like home.
SOURCE: La-Z-Boy Incorporated