Ethan Allen Expands Manufacturing in North Carolina
DANBURY, CT, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Ethan Allen Interiors Inc. (“Ethan Allen” or the “Company”) (NYSE: ETD) today announced that it has further strengthened its vertically integrated enterprise. Through its subsidiary, Ethan Allen Operations, Inc., the Company purchased certain property, plant and equipment assets of Dimension Wood Products, Inc. Founded in 1981 and located in Claremont, North Carolina, Dimension Wood Products, Inc. is a manufacturer of wood frames and machined parts used in upholstery manufacturing and has been a supplier to Ethan Allen.
Farooq Kathwari, Ethan Allen’s Chairman, President and CEO, commented, “We are pleased to have completed the asset purchase with Dimension Wood Products, Inc. Their talented associates, workshop and machinery will help us to further increase our control over raw materials, purchased parts, and labor costs while maintaining our high-quality standards.”
ABOUT ETHAN ALLEN
Ethan Allen Interiors Inc. (NYSE: ETD) is a leading interior design company, manufacturer and retailer in the home furnishings marketplace. The Company is a global luxury home fashion brand that is vertically integrated from product design through home delivery, which offers its customers stylish product offerings, artisanal quality, and personalized service. The Company provides complimentary interior design service to its clients and sells a full range of home furnishings through a retail network of design centers located throughout the United States and abroad as well as online at ethanallen.com. Ethan Allen owns and operates nine manufacturing facilities located in the United States, Mexico and Honduras, including one sawmill, one rough mill and a lumberyard. Approximately 75% of its products are manufactured or assembled in these North American facilities.
For more information on Ethan Allen's products and services, visit www.ethanallen.com.
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Released February 17, 2022