An Evergreen retail store in Atlanta. (Evergreen Enterprises)
A local home furnishings retailer is decorating its portfolio with a new acquisition.
Midlothian-based Evergreen Enterprises has acquired Bambeco, a fellow home goods company based in Baltimore.
Terms of the deal, which closed in late October, were not disclosed.
Bambeco makes home, kitchen, bed and bath furniture and decorative items made from recycled and sustainably sourced material. The brand sells direct-to-consumer as well as wholesale.
Operations will continue under the Bambeco name as a division of Evergreen, with founder Susan Aplin joining Evergreen to manage Bambeco’s operations and strategy. Bambeco’s staff of about 20 will transition to Evergreen, said Chris Wornom, Evergreen’s business development and acquisitions director.
Wornom said Bambeco was looking to sell as a means of growing its business faster.
“They had a broker who was mandated to sell the business and he contacted us,” Wornom said. “I think they were looking for a strong partner to help accelerate their growth, to shore up their business.”
Aplin, who founded Bambeco in 2009, could not be reached for comment.
The acquisition comes three years after Evergreen acquired another environmentally conscious brand, VivaTerra. Wornom said it has been averaging about one acquisition per year since 2010.
With the VivaTerra and Bambeco acquisitions, Wornom said, Evergreen is aiming to “take a clear leadership position” in the niche market of socially and environmentally conscious home products.
“We’re really excited to have them as a part of the Evergreen family,” he said. “They’ll benefit from our size and scale and will fit well with the other brands in our portfolio.”
Founded in 1993 by husband-and-wife team Frank Qiu and Ting Xu, Evergreen has grown to about 400 employees at its facility at 5915 Midlothian Turnpike. It sells furnishings and decor for home interiors and exteriors both online and wholesale in showrooms in the U.S., Canada and China.
An Evergreen retail store in Atlanta. (Evergreen Enterprises)
A local home furnishings retailer is decorating its portfolio with a new acquisition.
Midlothian-based Evergreen Enterprises has acquired Bambeco, a fellow home goods company based in Baltimore.
Terms of the deal, which closed in late October, were not disclosed.
Bambeco makes home, kitchen, bed and bath furniture and decorative items made from recycled and sustainably sourced material. The brand sells direct-to-consumer as well as wholesale.
Operations will continue under the Bambeco name as a division of Evergreen, with founder Susan Aplin joining Evergreen to manage Bambeco’s operations and strategy. Bambeco’s staff of about 20 will transition to Evergreen, said Chris Wornom, Evergreen’s business development and acquisitions director.
Wornom said Bambeco was looking to sell as a means of growing its business faster.
“They had a broker who was mandated to sell the business and he contacted us,” Wornom said. “I think they were looking for a strong partner to help accelerate their growth, to shore up their business.”
Aplin, who founded Bambeco in 2009, could not be reached for comment.
The acquisition comes three years after Evergreen acquired another environmentally conscious brand, VivaTerra. Wornom said it has been averaging about one acquisition per year since 2010.
With the VivaTerra and Bambeco acquisitions, Wornom said, Evergreen is aiming to “take a clear leadership position” in the niche market of socially and environmentally conscious home products.
“We’re really excited to have them as a part of the Evergreen family,” he said. “They’ll benefit from our size and scale and will fit well with the other brands in our portfolio.”
Founded in 1993 by husband-and-wife team Frank Qiu and Ting Xu, Evergreen has grown to about 400 employees at its facility at 5915 Midlothian Turnpike. It sells furnishings and decor for home interiors and exteriors both online and wholesale in showrooms in the U.S., Canada and China.