Bassett Furniture acquires Noa Home for C$7.7M upfront plus earn-out

BASSETT FURNITURE INDUSTRIES INC

Purchase price: C$2.0M cash to co-founders, C$5.7M to repay existing debt.
Earn-out: up to C$1.33M/year for three years based on revenue and EBITDA targets.
Noa Home generated C$19.1M revenue in fiscal year ended Feb 28, 2022.
Acquisition enhances Bassett's e-commerce presence in Canada, Australia, Singapore, UK.
Noa co-founders Jeremy Kopek and Jean-Claude Renaud will continue to lead the business.

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