FROM TV STANDS TO FULL-LINE RTA.
HFN: The Weekly Newspaper for the Home Furnishing Network, June, 1999 by Vasilopoulos, Despina; Vincenti, Mentored by Lisa
The giant producer of ready-to-assemble (RTA) furniture may be going private again in a buyout led by the O'Sullivan family. Reasons for the buyout included a conviction by management that the company's stock was undervalued. Indeed, the firm's performance has been impressive, with net income for the first nine months of fiscal 1999 up nearly 50 percent to $16.2 million and sales growing to $294 million from $255 million a year earlier.
That's not so bad for a company founded in a tiny town 45 years ago from the sweat of Thomas O'Sullivan and just six employees.
O'Sullivan Industries Holdings, which went public just five years ago, is the second-largest RTA producer in the country. The company's varied product line offers desks, credenzas, computer...
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