Furniture Brands to divest HBF
The company has retained Wachovia Securities to assist in the process. Ralph Scozzafava, vice chairman and CEO-designate, said: "The decision to divest HBF puts our focus solely on residential furnishings, which is our heritage and our core strength. Since its start more than 25 years ago as a division of Lane Furniture, HBF has grown to be one of the nation's most respected designers and manufacturers of business furniture. We believe it would be an attractive acquisition to both financial and strategic buyers."