BASSETT, Va. – Bassett Furniture, based in Henry County, has announced it’s purchasing another furniture company, Lane Venture.
While Bassett has traditionally focused on indoor furniture, Lane Venture has been an important player in the outdoor furniture market since it started in 1972.
This will allow Bassett to expand, which company leaders said will have big economic benefits for the area.
"We’ve had several good years in a row. We're excited about the direction of the company. We're going to open ten new stores in 2018, so we're growing and this is part of the growth story for Bassett," Bassett Furniture Chairman and CEO Rob Spilman said.
The company expects to close on the $15.5 million acquisition later this month.