MONROE, Mich. — La-Z-Boy Incorporated has sold its American Drew and Kincaid wholesale casegoods businesses to Banner House (formerly Magnussen Home Furnishings, Inc.), a multi-branded portfolio of home furniture. 

The transaction is expected to close in mid-May, and in the interim, the company says that American Drew and Kincaid casegoods products will continue to be available to wholesale customers in their current showrooms at High Point for the current April Furniture Market, which takes place from April 25–29.

Melinda D. Whittington, board chair, president and CEO of La-Z-Boy Incorporated, said, “We are pleased to announce the sale of the American Drew and Kincaid wholesale casegoods businesses as we deliver on our previously announced portfolio optimization. This transaction will enable La-Z-Boy Incorporated to focus on our core, vertically integrated North American upholstery business and drive our Century Vision strategy. In addition, this shift in casegoods sourcing strategy will better allow us to delight and inspire consumers with enhanced offerings for their entire home in our La-Z-Boy stores, Comfort Studios, and Branded Spaces across North America.”

“With this transaction, the American Drew and Kincaid brands will continue ... under new ownership, enabling a seamless transition for employees, sales representatives, customers, dealers, and suppliers. And, as La-Z-Boy Incorporated approaches our 100-year anniversary in 2027, we are excited to move ahead as a more focused enterprise to drive value for all stakeholders.”

Stump & Company acted as financial advisor to La-Z-Boy Incorporated in connection with the sale transaction.

Banner House debuts at market

When High Point Market opens, Magnussen Home will make its first appearance as Banner House, a new corporate identity that encapsulates a growing portfolio of furniture brands. Debuting in a new 91,000-square-foot showroom in 220 Elm, the Banner House product offerings include Magnussen Home, as well as Pulaski Furniture and Samuel Lawrence Furniture, two brands acquired in late 2025.

“Banner House is a new overarching identity representing multiple legacy brands that while distinct, are similar in the emotional connection customers have had with them over decades,” said Nathan Cressman, CEO of Magnussen, now CEO of Banner House. “As the flagship, we see our role, not in changing the brands’ core cultures that meant so much to so many, but in preserving and growing them for generations to come.”

Douglas Townsend, president of Banner House, added that the name was chosen to signify how the company approaches the furniture business, not only with shared operating structures for the brands and the resulting efficiencies, but also with “the shared values of quality, integrity, service and the way we treat people.” Townsend added that the new identity represents “more than a logo, fresh look and new High Point showroom.”

“Banner House is about a shared purpose that is greater than our own,” he said. “It is a unifying flag that people can rally around in tumultuous times.”

Diversity of product

Townsend said that each brand under Banner House has a distinct personality and price points, accompanied by a shared commonality of customers. The new tagline of “Everything for home under one Banner” reflects the sentiment, underscoring the three stylistically distinct brands with delineated price points that will appeal to a variety of consumer personas. All three brands can be mixed in a single container or truck, out of one warehouse, domestically or from Vietnam.

“The synergies align to provide more value in the marketplace,” said Townsend. “The operational efficiencies and mixability of the three brands translate into cost savings while expanding on the values that Magnussen has lived by throughout its history.”