Home Furnishings Co. Acquired by NexCen
March 14, 2007
NEW YORK, New York – NexCen Brands, Inc., a brand acquisition and management company, has entered into a deal with the home furnishings brand, Waverly, from F. Schumacher & Co.
NexCen has said they will pay $36.75 million in cash and issue 50,000 warrants priced at closing to acquire the Waverly brand and cancel an existing right of first refusal. NexCen also plans to hire marketing and licensing personnel to continue the business of Waverly.
Waverly is most recognized for its signature styles in fabric, wallpaper, paint, window treatment, decorative accessories and bedding. The company was launched in 1923 and is available through retailers and showrooms across the U.S.
NexCen, also called "The Company," hosted a conference call Wednesday morning, March 14, to discuss the acquisition of Waverly. A webcast version of the call can be heard from NexCen's website.
NexCen has said they will pay $36.75 million in cash and issue 50,000 warrants priced at closing to acquire the Waverly brand and cancel an existing right of first refusal. NexCen also plans to hire marketing and licensing personnel to continue the business of Waverly.
Waverly is most recognized for its signature styles in fabric, wallpaper, paint, window treatment, decorative accessories and bedding. The company was launched in 1923 and is available through retailers and showrooms across the U.S.
NexCen, also called "The Company," hosted a conference call Wednesday morning, March 14, to discuss the acquisition of Waverly. A webcast version of the call can be heard from NexCen's website.