Oak Furniture Maker UK
Hardwood furniture retailer Oak Furniture Land has been linked with a share sale in a bid to raise funds to support its expansion into the USA.
According to The Telegraph, Oak Furniture Land founder, Jason Bannister, has appointed professional services firm PricewaterhouseCoopers (PwC) to generate over £100m in the sale of a stake in the business to an outside investor.
The Telegraph also reported that PwC has valued the company at around £400m after growing sales to £300m last year.
Oak Furniture Land has already launched its US website, and is reported to use the capital raised to accelerate its expansion plans within the states.
In an emailed response to an enquiry by Cabinet Maker, Oak Furniture Land neither denied nor confirmed the report, stating that it has ‘not issued any statement regarding this’.
Oak Furniture Land, trading under JB Global, was established in 2004 and has continued to grow with the business now trading from 75 stores across the UK. The company introduced new brand SofaStore.com back in 2014, whilst also launching into the Northern Ireland market in December 2015 for the first time.