November 15, 2016 / 9:45 PM / 3 years ago

BRIEF-La-Z-Boy acquires UK licensee and nine La-Z-Boy furniture galleries stores in US

Nov 15 (Reuters) - La-Z-Boy Inc

* La-Z-Boy acquires U.K. Licensee and nine La-Z-Boy furniture galleries stores in the U.S.

* Existing furnico business outside of La-Z-Boy license will continue with its normal operations

* Agreement will be effective January 1, 2017, and its results will be reported in company’s upholstery segment

* Nine stores acquired are profitable, will be quickly integrated into our retail segment and be accretive

* Annual wholesale revenue for this business is approximately $42 million, based on current exchange rates Source text for Eikon: Further company coverage:

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