Freedom Furniture sold to Quadrant-backed rival ahead of potential IPO

Freedom Furniture sold to Quadrant-backed rival ahead of potential IPO

The combination of the two well-known furniture retailers will create a $1 billion giant that could hit the ASX as soon as next year.

channelnews : Freedom Furniture Sold to Amart in $1bn Home Retail Merger

Freedom Furniture has been sold to Quadrant Private Equity-backed Amart, creating a $1 billion home retail giant that is eyeing a potential ASX listing in the near future. The acquisition brings together two of Australia’s largest furniture retailers, forming a group with 126 stores across Australia and New Zealand, more than 2,200 staff, and projected annual sales exceeding $1 billion. While terms of the deal were not disclosed, the transaction…