by 1 of the largest independently owned Ashley licensees in the US is expanding into its 7th state
FORT MILL, S.C. — Broad River Retail, one of the largest independently owned Ashley licensees in the United States, has acquired six Ashley Stores and a distribution center in Oregon from CTR Associates, marking a major expansion into its seventh state. The deal brings Broad River Retail’s network to 45 locations and significantly expands its presence in the Pacific Northwest.
In the short term, Broad River Retail aims to grow Oregon market revenue to $40 million annually. Overall, the company projects delivered sales between $340 million and $350 million in 2027, with a long-term goal of reaching $500 million annually by 2030.
“This is the most significant expansion move in Broad River Retail’s history, and it gives us instant scale in the Northwest,” Charlie Malouf, CEO of Broad River Retail, said in a news release. “With these six stores, we are tripling our Northwest store count from three to nine. Our goal was never for the Northwest to simply be a spoke in our network. We wanted to build another wheel, and this Oregon expansion gives us the team and foundation to do that.”
The acquisition includes a distribution center in Salem, Oregon; three Portland-area stores in Clackamas, Jantzen Beach and Tigard; and additional locations in Corvallis, Salem and Springfield. Broad River Retail plans to invest further in the Oregon market, beginning with a remodel of the Clackamas location to convert it into Ashley’s 7.0 store concept featuring an in-store Ashley Outlet. Jennifer Smith, formerly director of sales for CTR Associates’ Ashley Stores, will stay on to lead the region as Broad River Retail’s regional manager for Oregon.
“Our team has worked hard to build a strong business and lasting relationships with the communities we serve across Oregon,” Jeff Kelly, president of CTR Associates shared in a statement. “As we look to the future, we’re confident Broad River Retail will build on that foundation, invest in the people and continue to serve guests with the care and commitment they’ve come to expect.”
The Oregon acquisition caps off a period of rapid growth for Broad River Retail in the Northwestern U.S. and beyond. In December 2025, the retailer opened a three-story, 100,000-square-foot Ashley Store and Outlet in Spokane, Washington; in April, an Ashley Store in Moscow, Idaho; and in May, it acquired a store in Richland, Washington.
Other expansions Broad River Retail completed this year were the company’s first Ashley Store and Outlet in Maine and a new location in Statesville, North Carolina. In mid-November, Broad River Retail plans to open its 46th store in Orangeburg, South Carolina, bringing its total new stores to 13 over the past 12 months.
