Live Ventures to Acquire Lonesome Oak Trading Co.
Live Ventures Incorporated (LIVE)
US:NASDAQ Investor Relations:
ir.live-ventures.com
Company Research
Source: GlobeNewswire
LAS VEGAS, Nov. 06, 2019 (GLOBE NEWSWIRE) -- Live Ventures Incorporated (Nasdaq: LIVE), a diversified holding company, today announced that one of its subsidiaries has entered into an agreement to acquire all of the outstanding stock of Lonesome Oak Trading Co., a leading carpet manufacturer. The acquisition is expected to close in the fourth calendar quarter of this year. Lonesome Oak, located in the Dalton, Georgia area, is a tufted textile (carpet) manufacturer that sells carpet domestically and internationally. In addition, Lonesome Oak also purchases and resells hardwood flooring and luxury vinyl tile in the United States. Lonesome Oak maintains over 433,000 square feet of facility space and employs 282 full-time employees. The acquisition of Lonesome Oak is expected to increase Live Ventures’ consolidated revenues by approximately 50% in its manufacturing segment to more than $130 million per year. “The addition of Lonesome Oak to our portfolio solidifies Live’s commitmen
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