According to the Post-Journal, the Canadian firm Bestar Inc. announced on Tuesday it had acquired Bush Industries, although specific details of the acquisition – including the cost – was not released. Bestar is based in Quebec and is a company owned by Novacap – a Canadian private equity firm.
In 2018, Bush Industries was purchased by Lorraine Capital, a private equity firm in Buffalo.
Bush president and CEO Michael Evans will continue to serve in that capacity. Evans also notes that while there will be some savings from efficiencies once the companies are integrated, the main objective will be to further expand the Bush product assortment and to leverage quick shipping capabilities and global manufacturing to further accelerate the rapid growth both companies are now experiencing.
Bush Industries has 350 full-time employees nationwide and the majority of its employees work in Jamestown.