Art Van Furniture is acquiring its five franchise stores in the St. Louis region.
Warren, Mich.-based Art Van Furniture entered the St. Louis market in November 2017 by signing a franchise agreement with Rothman's President and CEO Jay Steinback. The Rothman stores rebranded as Art Van Furniture in 2018.
Art Van Furniture now says it has signed a letter of intent to acquire the five stores in early 2019. Financial terms were not disclosed.
Art Van Furniture said it plans to maintain its partnership with Steinback, who will continue to oversee Art Van Furniture’s customer delivery services in the St. Louis region.
“This acquisition is consistent with Art Van’s strategy to invest in key furniture markets like greater St. Louis, a $1 billion home furnishings market,” Ron Boire, president and CEO of Art Van Furniture, said in a statement.
Art Van Furniture operates 188 stores in nine states.