News

Leggett & Platt divests its store fixtures division

The division manufactures custom-designed, complete store fixture packages for major retailers, including metal and wood shelving, counters and showcases.

November 3, 2014

Diversified manufacturer Leggett & Platt has announced the sale of the majority of its Store Fixtures operations to Lozier Corp. for total consideration of approximately $62 million. These operations, located in Middlebury, Indiana; Fort Worth, Texas; and Union, Missouri, represent approximately three-quarters of the business unit's revenues, and manufacture custom-designed, complete store fixture packages for major retailers, including metal and wood shelving, counters and showcases. Lozier Corp., based in Omaha, Nebraska, designs and produces store fixture solutions.

In July, Leggett & Platt announced that it had engaged an investment banker and was exploring strategic alternatives for the Store Fixtures business, including possible divestiture. All of the criteria for discontinued operations have been met, and the business was classified as a discontinued operation in the third quarter. The company expects the divestiture to result in an approximate $.04 per share loss in the fourth quarter, which will be recognized in discontinued operations. The company continues to pursue the sale of its two remaining Store Fixtures facilities.