World Imports President Marc Luber said the assets the company is acquiring include Hamilton Spill's North American customer base, active orders and inventory housed in Vietnam.
Meanwhile, Hamilton Spill
will continue to focus on its international business outside the United States from its Hong Kong headquarters.
"We have known Marc and his family for years first as customers and most recently as respected competitors, and we are delighted with this transaction as they will continue to offer Hamilton Spill customers excellent service at exceptional values," Hamilton Spill President Mick Verjee said in a statement.
said the main attraction in the deal for World Imports
is access to the Canadian market, which he
estimated represents about 60% of Hamilton Spill's North American volume.
added that Hamilton Spill
, which formerly was based in British Columbia, also has a strong presence on the West Coast.
"We are delighted with this opportunity, especially since Hamilton Spill
has successfully served the North American furniture industry since 1963," Luber
"We get a number of new sources we didn't have before," Luber
"They have good strong relationships with these factories and have good strong production, so it's good for us."
World Imports also will gain access to a climate-controlled warehouse in Vietnam that can house and mix product from multiple factories.
"Our infrastructure will improve," Luber
said the plan for the immediate future is to keep both lines separate and marketed under their respective brand names.
At the High Point Market, which runs April 2-7, each brand will continue to show new and existing product in their respective showrooms.
is on the fourth floor of the National Furniture Mart and Hamilton Spill
is in space 220 of Plaza Suites.
sells a lower middle priced line of bedroom and dining room furniture, occasional, home entertainment and upholstery.
sells a mostly mid-priced line of upholstery, case goods and occasional, Luber
"There are a few similarities in the lines, but very little crossover product," he