Man Wah Holdings acquires Gainline Recline Intermediate Corp.

Client(s) Man Wah Holdings Limited

Jones Day advised Man Wah Holdings Limited (“Man Wah”, 1999.HK) on its acquisition of 100% of the capital stock of Gainline Recline Intermediate Corp. (together with its subsidiaries, the “Target Group”) for a total amount of approximately US$58.7 million. The Target Group is principally engaged in the manufacturing and trading of upholstered furniture in the United States and has 8 facilities in northern Mississippi encompassing more than 2 million square feet. Man Wah anticipates the synergies between the business of Man Wah and the Target Group following the closing of the transaction, and the expansion of Man Wah’s manufacturing footprint into the United States to address the opportunities and challenges arising from changes in the international trade environment.

Headquartered in Hong Kong, Man Wah was founded in 1992 and is now one of the world’s largest producers of home furnishings. With offices and production facilities throughout the world, the company is a global leader in the design and production of motion and stationary sofas, recliners, accent chairs and home theater seating.