Bestar Inc. acquires US-based Bush Industries Bush Industries with financing from Desjardins
January 10, 2020
On January 14, 2020, Quebec-based furniture manufacturer and retailer Bestar Inc. announced the acquisition of US-based competitor Bush Industries. At the time of the acquisition, Bush Industries was the larger of the two furniture companies, with 2x the number of employees and 3x the sales of Bestar. The newly-formed combined entity, Bestar-Bush, will be headquartered in Quebec and have consolidated sales of approximately US$200 million.
Bestar-Bush is a portfolio company of Novacap, which manufactures and distributes ready-to-assemble furniture for home and office spaces.
The Desjardins Group is the largest federation of credit unions in North America. FCDQ supports the Desjardins caisses in Québec by providing the caisses with the services required and coordinating the efforts of all other Desjardins Group components, namely Capital Desjardins and Desjardins Trust.
McCarthy Tétrault advised FCDQ with a team led by Richard O’Doherty that included Louis-Philippe Samson and Alexis Hudon.