Leggett & Platt (Carthage, Mo.), the diversified manufacturer that is also the country’s largest store fixture manufacturer, has announced five new acquisitions, including a store fixture manufacturing facility in Shanghai, China.
Shanghai Fixtures Facility has been a key supplier to Leggett's U.S. operations, manufacturing a broad line of store fixtures and gondola shelving. Its acquisition is expected to enhance Leggett's production of store fixtures by about $20 million. However, since nearly all of the facility's product is already being sold to Leggett & Platt for distribution in the U.S., near-term annual sales revenues will be unchanged.
The company said acquisition of this facility gives it “a well-developed operating presence in China from which to serve the growing domestic Chinese market, while continuing to meet existing U.S. demand.” The operations include full steel fabrication resources, and both powdercoating and chrome plating finish capability. The facility was built in 2000. It offers an Asian base to expand L&P's capability in gondola, wire, and wood manufacturing. The facility has approximately 460 employees, and runs two shifts per day.
The company also announced four other acquisitions that, collectively, should add about $85 million to annual company revenues. They are: the assets of Ikex Inc. and the membership interests of Jarex Distribution LLC, which should add almost $65 million in annual sales to Leggett’s Residential Furnishings segment; the Jia Jiang furniture mechanism facility near Shanghai; and Westex Intl., producer of down comforters for distribution to department stores and specialty shops and Everwood Products, producer of metal rocker bases and specialty components for the residential furniture industry.