Since 1939, Washburn's Home Furnishings has been a landmark business in Mena, Arkansas, and the entire Polk County region. Founded by Omar Washburn, the Washburn family continued its legacy by bringing Washburn's into the 21st Century with a heart for the community and hands-on expert advice.
After investing several decades into Washburn's, Owners Gar and Debby (Washburn) Eisele were ready to retire, slow down, and spend time with their grandchildren. All Washburn family members were agreeable, and that's when buyers Michael and Jessica Myers, also of Mena, entered the picture. Although the Myers family was not in the furniture industry, they were drawn to this community business with an excellent reputation in Western Arkansas.
Washburn's offered strong annual revenue, earnings, and valuable real estate to accompany the sale. With help from CBI Team Fort Smith-River Valley, Michael and Jessica Myers were able to acquire an SBA-backed loan through Regions Bank under the direction of Itzel Meador and Jake Sibley.
When asked about the buying process and all that it entails, Michael Myers praised managing partner Mark Kincannon stating, "All was great with Mark and the whole experience."
Since the sale, the Myers family reports that Washburn's is continuing to thrive, and they are looking forward to the grand reopening celebration slated for the first quarter of 2018.
CBI Team Fort Smith-River Valley was privileged to help navigate the complexities of both the selling and acquisition aspects of this deal.
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