ScS parent reduces stake in manufacturing giant

17th March | finance | Private equity group Sun Capital Partners has significantly reduced its stake in US furniture manufacturing group Furniture Brands International. The finance firm, which is parent to upholstery retailer ScS in the UK through its Sun European arm, has sold in excess of 700,000 shares in the past month.

The company says it wants to reduce its minority shareholdings in firms in favour of taking larger interests in distressed businesses. Other major Furniture Brands International stakeholders include Samson Holdings, the Chinese parent firm to UK furniture supplier Willis & Gambier.