GREENWOOD, Miss. — Home furnishings manufacturer John-Richard was acquired in early November by a group headlined by company executive Alan Galbraith.
Partners in the acquisition included The Dorman Group of Companies and Merit Capital Partners. Financial terms of the purchase were not disclosed.
As part of the acquisition, Galbraith will transition from president to CEO of the Greenwood, Miss.-based maker of furniture, accessories, lighting, mirrors and more. In addition to purchasing the business, the new owners also purchased John-Richard’s corporate headquarters in Greenwood. The sale was concluded between the partners and Alex Malouf, founder of John-Richard, and the Malouf family.
“I am extremely grateful for the opportunity Alex Malouf gave me more than 15 years ago when I joined John-Richard,” said Galbraith. “Working with Alex has been an honor and an exciting journey. I was tasked with transitioning the company from an entrepreneurial family business based in Greenwood, Miss., to the multinational luxury home furnishings company it has become today. The future for John-Richard, even in the challenging times of a global pandemic, is brighter than ever.”
Malouf founded John-Richard in 1980 as a sideline business to Malouf Furniture, one of the largest retail furniture operations in the Mississippi Delta. The original company employed five people and was housed in a 10,000-square-foot warehouse. Since then, John-Richard has grown internationally to include offices and factories in Vietnam, India and China, with a vendor network across the globe.
Officials say John-Richard was positioned well prior to the pandemic, with strong orders and shipments. After the forced shutdowns in the spring, the company has rebounded with a significant surge in business. They say its customers can expect the same level of service and design under its new ownership structure.
In addition to John-Richard’s corporate headquarters located in Greenwood, a permanent showroom open to the trade is located at 200 Steele in High Point.