Amart Furniture buys Freedom, creating a $1B business

Amart Furniture has acquired Freedom Furniture, creating a combined furniture business with approximately $1 billion in annual sales. The acquisition, for an undisclosed sum, was made by Amart, a private equity-backed company, from Greenlit Brands, the parent company of Freedom Furniture. Amart's CEO will lead the combined entity, aiming for 100 stores for each brand. Freedom Furniture, founded in 1981, operates 60 stores across Australia and New Zealand. Greenlit Brands is divesting assets as part of a broader strategy.