Samson Holding Acquires Vietnam Manufacturing Facility
Furniture World News Desk on
7/17/2019
Samson Holding Ltd. (0531.HK) announced the acquisition of a 70% stake in the Timber furniture factory located in Bien Hoa, Dong Nai Province, Vietnam. The purchase is a strategic investment for Samson Holding to support its Universal Furniture brand and enter a well-established Vietnam furniture manufacturing community while remaining a reliable, vertically integrated partner to retailers and interior designers around the world.
The acquisition of Timber reflects Samson’s global investments in manufacturing to support its supply chain and diversified customer base around the world. With this acquisition, Samson now has manufacturing facilities in the United States, China, Indonesia, Bangladesh and Vietnam.
Established in 2004, the Timber facility is approximately 2 million square feet and has the capacity for 700 containers per month. The factory will continue to service its current OEM customer base.
“We chose the Timber facility because of its veteran senior management team and its highly experienced work force of 3,700 employees, both of which will remain with the company,” said Samson Holding Chairman Samuel Kuo.
Universal Furniture will have an exclusive production line within the Timber facility and begin production in October 2019. Samson’s Jiashan, China, facility will assist Timber with engineering and manufacturing support during the transition period. The Jiashan facility will continue to produce Universal products during the transition and afterward will remain focused on China and other international markets.
“Our goal is to lessen the impact of Chinese tariffs and mitigate any future issues with production in China,” said Samson Holding Executive Director Mohamad Amini.
“We’re putting significant resources on this project to minimize disruption in our current supply chain as we strive to continue to be an easy company to transact with,” said Universal Furniture President and CEO Jeff Scheffer.
About Samson Holding Ltd.: Samson is a wholly owned subsidiary of Samson Holding, Ltd. currently headquartered in Dongguan, Guangdong, China, with subsidiaries in the U.S., U.K., France, China, Hong Kong and Taiwan. Samson Holding is listed on the Main Board of the Hong Kong Stock Exchange and generates annual revenues in excess of $450 million U.S. dollars. Samson is one of the leading wholesalers in the U.S. residential furniture industry. It produces and sells a wide range of furniture under its own brands including Baker Interiors Group, Universal Furniture, Legacy Classic Furniture, Craftmaster Furniture, Grand Manor Furniture, Lacquer Craft Hospitality, Samson International and licensing programs such as Paula Deen, Coastal Living, Rachel Ray and Wendy Bellissimo. In addition to producing its own brand’s products, the company’s manufacturing division in China, under the name of Lacquer Craft Mfg., is a supplier of choice for many leading furniture brands and private label retailers in North America and the rest of the world.
About Universal: Universal Furniture creates quality furnishings for the whole home with a focus on function and lifestyle. The company’s casegood, upholstery, accent and accessory designs are developed under the brand names Universal Furniture (Lifestyle Collections), To The Trade (Interior Design) and Spaces™ (Millennial and Youth), and sold through retailers and interior designers throughout North America and around the world. Founded in 1968, Universal Furniture is a brand of Samson Holding, one of the world’s largest vertically integrated furniture manufacturers. For more information, visit www.universalfurniture.com.