Whalen Furniture Manufacturing has been sold to Li & Fung
Lincoln International LLC (“Lincoln”), a leading global mid-market investment bank, has announced that Whalen Furniture Manufacturing, Inc. (“Whalen” or the “Company”) has been sold to Li & Fung Limited (“Li & Fung”).
Based in San Diego, CA with additional locations in Asia, Whalen is the leading platform providing branded consumer durables and services in North America. Whalen designs and markets a diverse mix of products that include home and garage storage systems, closet storage systems, entertainment gaming products and consoles, home office products and dining and juvenile furnishings. The Company serves a variety of channels, including the club, mass, consumer electronics, office superstore and home improvement channels. Whalen is an indispensable strategic partner to retailers worldwide who rely upon the Company for collaboration and direction related to innovation, category management, market and product trends, future planning of promotions and other customer insight activities.
Lincoln International acted as the exclusive financial advisor to Whalen, working closely with the Company’s management team and shareholders throughout the sale process. This included providing merger and acquisition advisory expertise, as well as managing the preparatory, buyer coordination and contact, due diligence and final negotiation phases of the transaction.
Ken Whalen, Founder and President of Whalen, commented, “The Lincoln team was instrumental throughout the sale process, providing expert guidance and generating significant interest among international and domestic parties, which resulted in a favorable strategic outcome for the Company.” Ken added, “Lincoln’s expertise, buyer knowledge and global access contributed greatly in finding a strategic partner who will help accelerate the Company’s growth potential. We look forward to a successful partnership with Li & Fung.”
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