Wolf Furniture has been in the family for 115 years, but someone new is taking over.
The Altoona-based business, in its fourth generation of ownership, was sold to Art Van Furniture in a deal that included Pittsburgh-based Levin Furniture also being acquired. Wolf Furniture has a store in Patton Township.
The deal was announced in a release Monday. The acquisitions will bring Art Van Furniture’s footprint to 176 stores in nine states and add about 1,900 new employees to the company’s payroll.
“Today’s acquisitions of these two well-established furniture retailers, both intricately woven into the fabric of their communities, underscores a transformative new era of thoughtful expansion at Art Van Furniture,” Art Van Furniture chief executive officer Kim Yost said in a statement. “From their commitment to their customers to their long-standing histories and corporate cultures, Levin and Wolf are a perfect fit for Art Van’s growing family of brands.”
Wolf and Levin Furniture stores will maintain their brand names, management teams, staff, customer accounts and warranties as part of the deal.
Wolf Furniture was co-founded in 1902 by Charles Wolf and John Fox. It operates 18 stores in three states. Levin Furniture was founded in 1920 by Sam Levin and has 35 stores in two states.
“The timing was right, and the opportunity presented itself,” Wolf Furniture chief executive officer Doug Wolf said. “The heart and soul of our 115-year-old company will remain the same with this acquisition, and Wolf Furniture will benefit from Art Van’s enormous buying power, warehouse and distribution capacity and services.”