Ashley Furniture Industries Inc. acknowledged June 2 that it is in “very exploratory” discussions with investment banking giant Goldman Sachs, but the CEO of the Arcadia-based company deflected questions pertaining to reports that Ashley could sell for as much as $3 billion, the Wisconsin State Journal reported.
The Wall Street Journal reported the nation’s leading furniture manufacturer was “exploring” such a sale, citing people familiar with discussions, but noted everything was still just in the talking stages.
A Milwaukee Journal Sentinel analysis showed Ashley, with 500 retail stores, had almost $4 billion in sales last year, putting it in good shape to woo buyers.
In a statement Ashley said the company was working with Goldman Sachs, but the press release was unclear about the details of the consultation. Ashley said Goldman Sachs was brought in to help the furniture company explore investment alternatives and other opportunities to enhance its future growth.
