Bassett Furniture acquires Canadian e-commerce retailer Noa Home

BASSETT, Va. – Whole-home furniture resource Bassett Furniture announced today that it has acquired Noa Home, a mid-priced ecommerce furniture retailer based in Montreal.

The company said the purchase price included cash payments of C$2 million paid to Noa’s co-founders and C$5.7million for repaying existing debt. In addition the co-founders will receive additional case payments of C$1.3 million per year for the next three fiscal years based on net revenue growth and meeting various internal EBITDA goals.

“The acquisition will provide BSET with a greater online presence and will allow us to attract more digitally native consumers,” said Bassett Furniture CEO Rob Spilman.

Noa had net revenues of C$19.1 million in its latest fiscal year. In addition to operations in Canada, Noa has operations in Australia, Singapore and the U.K.

Charlotte, North Carolina-based Stump & Company represented Noa Home in the transaction.

Thomas Russell

Home News Now Editor-in-Chief Thomas Russell has covered the furniture industry for 25 years at various daily and weekly consumer and trade publications. He can be reached at tom@homenewsnow.com and at 336-508-4616.

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