by Sale would include Verona, Mississippi, upholstery manufacturer’s assets including 350,000- square-foot plant and surrounding real estate
VERONA, Miss. — Full-line resource Elements International Group LLC has reached an agreement to sell its Style Line upholstery manufacturing operation in Mississippi to California-based upholstered furniture resource Jonathan Louis.
Officials did not disclose the planned purchase price or other terms of the transaction other than to say that it includes the sale of Style Line’s assets and operations including its 350,000-square-foot manufacturing plant and real estate in Verona, Mississippi.
The company noted that it also includes “the transfer of operational responsibility from Elements International to Jonathan Louis. The agreement reflects a mutually beneficial transition that supports Elements’ long-term strategic priorities while providing their upholstery factory and team with a strong manufacturing-focused owner committed to craftsmanship, quality and customer relationships.”
“This transaction allows Elements to sharpen our focus on the product categories that are growing at exceptional rates, while ensuring the Style Line team moves forward with a partner that deeply understands domestic manufacturing,” said Mike Wurster, president of Elements International. “Jonathan Louis is highly respected for its leadership, product quality and commitment to customers. We believe this transition positions our team in Mississippi for continued success and momentum.”
Jonathan Louis said it views the acquisition “as a strategic expansion of its U.S. manufacturing footprint. The Mississippi-based facility provides JL with enhanced geographic reach, improved distribution efficiency and additional domestic production capacity as market dynamics continue to evolve.”
Mike Watson, a partner at Mann Armistead & Epperson Ltd., investment banker to Jonathan Louis International, said, “This strategic transaction marks a significant milestone in executing Jonathan Louis International’s long-term growth strategy by expanding its upholstered furniture manufacturing capabilities east of the Mississippi River. The acquisition complements their operations both in Los Angeles and Tijuana, Mexico, and enables them to address current and future operational opportunities as well as to better serve their customers.”
Both companies also said that they plan to provide clear and consistent customer communication throughout the transition, adding that Jonathan Lewis plans to communicate directly with customers as its specific plans moving forward materialize.
Founded in 1969, Style Line produces a line of midpriced stationary upholstery that includes sofas, sectionals, chairs and loveseats. In June 2019, Elements International purchased the company, which provided its customers with a U.S.-made upholstery line that complemented its imported product mix.
