April 2026 High Point Market Recap

The April Market is always a Stump favorite – typically blessed with mild, pleasant NC weather and early enough in the calendar to allow for prognostications on the calendar year. In other words, a great excuse to reconvene with industry friends old and new alike. This market was filled with lots of highs and, unfortunately, some lows – mixed with a lot of uncertainty.

Despite the whirlwind of tariff declarations, war in the Middle East, surging fuel prices and a murky interest rate picture at home … exhibitors, retailers, designers, and industry veterans all showed up to conduct business, present their latest product introductions, and put on a positive face. A few even came straight from Milan, where Salone once again overlapped with High Point’s dates.

Overall attendance seemed down, but we were pleased at how many companies are still performing at a high level. Others continue to struggle due to persistently higher interest rates, weaker consumer demand, and a continued letdown from the 2021-22’ COVID-highs. It has become clear to us that the strong companies are accelerating and the weak are fading. As one industry executive shared with us, “People want to do business with those that raise their hand. And we are raising both our hands!” It is a pivotal, exciting, and perhaps once-in-a-generation time to run a business in this industry, and M&A has a significant role to play in shaping the future of the industry.

M&A Transaction Update(s):

Our team has been hard at work in the new year, with several notable industry transactions just recently announced. These span residential furniture importers and manufacturers to commercial seating firms, EBITDA-multiple deals and asset sales. In each case, we exclusively represented the sellers:

• Spec – a thriving commercial seating manufacturer that supplies the healthcare, corporate, education, and behavior health markets. The company was owned by Sauder Manufacturing and acquired by Flokk, Europe’s leader in commercial seating and a rising player in North America.
• Kincaid/American Drew – a continuation of LZB’s strategic focus to divest non-core assets, the acquisition has been announced by Magnussen (Banner Home Brands).

Note: we assisted Hooker Furnishings last fall in their divestiture of select casegoods assets – also acquired by Magnussen (Banner Home) !

• Kincaid Upholstery – another LZB divestiture, based in Taylorsville, NC, this manufacturer of premium upholstery was acquired by KMC Furniture, LCC - backed by independent investors including members of the Kincaid family
• Woodmark – a divestiture from the Howard Miller Company - we assisted the company in selling its upholstery factory, located in High Point, NC. The facility was acquired by Davis Furniture
• EJ Victor Part of the wind down of EJV operations, our real estate team represented the sellers in the sale of this landmark downtown High Point showroom

Key themes:

1. We continue to see larger companies exiting non-core segments to focus on their core and redeploy capital into the primary business. As complicated as our world - and industry – has become, it is critical to deploy this “back to basics” or “first principles” approach. The LZB and Sauder transactions are illustrative of this movement, as was the divestiture of Samual Lawrence and Pulaski late last year by Hooker Furnishings. We are thankful for the opportunity to work with these tremendous public and private companies.
2. Sale of idle or underutilized assets is a priority now as retailers, manufacturers and distributors are re-balancing their assets to meet the new tariff and economic pressures. We sold the Woodmark upholstery factory and are currently in the marketplace with a brand name (intellectual property) - an intangible asset that has not been in use for several years. Strategic players are closely studying assets that can bolster their existing brands and better leverage in-place overhead.
3. Mexico is active with many businesses looking to double down in the country as a “next door – close to the USA” alternative to Asia, at much lower cost than domestically in the US. We see activity along the border towns of Tijuana, Mexicali, and Juarez, as well as interior cities, and anticipate several announcements in the area in the next 12 months. The tariff situation and pending USMCA negotiations are being closely monitored.

Finally, the Stump family was thrilled to learn that Ralph Stump, our Company founder & legendary leader, had been selected as an inductee to the American Home Furnishings Hall of Fame. Ralph loved the furniture industry and was always happiest when attending the High Point Market or visiting his clients or working on an acquisition. Congratulations Ralph! We love and miss you. Hall of Fame names 5 inductees for 2026

We expect to announce several additional transactions in the coming weeks and months and remain upbeat about the future of our furniture industry. Call us, we’re here to help.