Consolidated Mercantile Incorporated Sells Interest in Distinctive Designs Furniture Inc.
Furniture World Magazine
Consolidated Mercantile Incorporated announced that it has reached an agreement to sell its investment interest in Distinctive Designs Furniture Inc., a manufacturer of leather and fabric upholstered furniture, to Distinctive's other major shareholder. It is expected that the transaction will close on or about December 28, 2007.
Consolidated Mercantile Incorporated is a management holding company which provides merchant banking and effects its investment strategy through investment in and management of its investee Companies.
About Distinctive Designs Furniture Inc.
Distinctive Designs and Kroehler Furniture's North American Headquarters located in North York, Ontario, Canada is the core manufacturing and distribution center for the Distinctive Designs Companies. Founded by the father in law of the current President in 1941, the company started as a sales and manufacturing organization with one location in North York. Specializing in Leather and Fabric Upholstery, operating out of 3 Factories in Toronto with total production space of 340,000 sq.ft. . The main administration offices, a design department, and a large showroom, are also housed at the Clayson Road location. The unionized labour force averages about 380 and is characterized by a wide mix of ethnic backgrounds with approximately a 50:50 male/female split.