Furniture Brands International Inc. will sell its HBF business-furniture brand and sharpen its focus on residential furniture.

St. Louis-based Furniture Brands (NYSE:FBN – News) has not yet identified a buyer for the unit and has hired Wachovia Securities to assist in the divestment, according to Ralph Scozzafava, chief executive.


ADVERTISEMENT

HBF, formerly known as Hickory Business Furniture, and HBF Textiles have 300 employees at a factory in Hickory.

Furniture Brands is the parent company of several N.C. furniture brands, including Thomasville and Broyhill.

“The decision to divest HBF puts our focus solely on residential furnishings, which is our heritage and core strength,” Scozzafava says.

Charlie Bell, HBF president, says the unit’s performance has been strong.

“An experienced management team, a strong product pipeline and a commitment to quality make HBF well-positioned to deliver continued solid financial results,” Bell says.

Published October 17, 2014 by the Charlotte Business Journal