Monday, July 16, 2018

Joybird Acquired By La-Z-Boy

Commerce, California-based Joybird, an online retailer and manufacturer of furniture, has been acquired by La-Z-Boy Incorporated, La-Z-Boy said on Monday. Financial terms of the deal were not announced. Joybird (Stitch Industries) was founded in 2014 by Alex Del Toro, Andres Hinostroza, Joshua Stellin and Christopher Stormer, and manufactures mid-century modern upholstered furniture, which it sells online through its own brand. According to La-Z-Boy, Joybird had annual revenues last year of approximately $55M. The co-founders of the company will continue to run Joybird, and La-Z-Boy said it they will be responsibility for sales, customer service, marketing and brand development as well as the overall operation of the business.