There was a shake-up two weeks ago in the furniture business in Canada, and it affects are widespread. So far however it should not have much effect on the local business community.
On November 11, Leon’s Furniture and The Brick announced Leon’s would be acquiring The Brick. The two businesses will continue to operate under separate banners.
Steven Peterson, owner of The Brick stores in Drumheller and Hanna said from what he understands it will be business as usual for the local stores.
“It will be a little while before the deal is actually finalized, but the franchise owners have been told things will carry on as normal for now,” said Peterson.
Terry Leon will remain CEO of Leon’s, but also become CEO of the combined entity.
“This transaction brings together two great Canadian companies with complementary geographic footprints to strengthen our position in the home furnishings marketplace. We will apply the best practices of both companies to offer even greater value to our customers and create more opportunity for our associates,” said Terry Leon, president and CEO of Leon’s.
President and CEO of The Brick Vi Konkle will continue as president of The Brick.
“We welcome this opportunity to partner with this iconic corporation. By joining forces, we can strengthen both of our businesses, enhancing everything that has made Leon’s and The Brick two of Canada’s best-known retailers and preserving The Brick’s roots in Edmonton,” said Konkle.
The arrangement comes at a time of changes in the Canadian retail landscape, and the coming of retail giants such as Target and Neiman Marcus.
