FORT MILL, S.C. — Top 100 retailer Broad River Retail, which owns and operates Ashley stores in the Southeast, Pacific Northwest and upper New England, has acquired six Ashley stores and a distribution center in Oregon from CTR Associates.
The acquisition of the Oregon business, which generates more than $30 million in annual delivered sales, brings the Fort Mill, S.C.-based retailer to 45 Ashley showrooms in seven states. More than 70 employees are joining BRR through the purchase.
“This is the most significant expansion move in Broad River Retail‘s history, and it gives us instant scale in the Northwest,” said Charlie Malouf, CEO of Broad River Retail. “With these six stores, we are tripling our Northwest store count from three to nine. Our goal was never for the Northwest to simply be a spoke in our network. We wanted to build another wheel, and this Oregon expansion gives us the team and foundation to do that.”
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The acquisition includes six Ashley Stores across Oregon, giving Broad River Retail a meaningful presence in the Portland metro area and multiple key markets statewide. The six stores include three Portland-area locations in Clackamas, Jantzen Beach and Tigard, along with stores in Corvallis, Salem and Springfield. The transaction also includes a distribution center in Salem that supports the Oregon retail network…