Dorel acquires Carina Furniture Industries
Global manufacturer of consumer products, Dorel Industries has signed and closed a purchase agreement for all shares of Carina Furniture Industries. Based in Toronto, Carina is a manufacturer of ready-to-assemble (RTA) furniture sold under its Carina and SystemBuild brands. Dorel says the addition of Carina makes it the number two RTA furniture producer in North America and that the deal will allow it to strengthen its presence in retail sectors where it has not had a solid market share.
Carina has a strong presence in office superstores and do-it-yourself retail chains in the US and Canada. Over the last year it has grown revenue by 40% and sales for its last fiscal year were around $60 million. Carina’s operations will be integrated into Dorel’s RTA furniture division Ameriwood.
24-Sep-2003
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