NOVEMBER 13TH, 2020
VAUGHAN, Ontario - AZ Trading Co Ltd. (AZ - azhome.com) and CTG Brands Inc. (CTG - ctgbrands.com) are pleased to announce that we have entered into an agreement for CTG to acquire AZ’s entire home décor business and all of AZ’s assets relating to that category of business effective December 1, 2020.
This transaction will further strengthen CTG’s position in the home décor market. The combination of AZ’s enviable position in online and bricks-and-mortar home décor marketplace with CTG’s global sourcing resources and sales network in North America will provide customers with deeper and more comprehensive product solutions than ever before. This transaction will also significantly increase CTG’s market share and expand consumer awareness of its brand portfolio in all retail segments.
CTG plans to leverage AZ’s extensive brand portfolio, including AZ Home and Gifts, Kiera Grace, Nexxt and Radiance to name a few, to expand on CTG’s strong track record of success and industry leadership.
As with all important business decisions, we will work closely with our customers, suppliers, employees and all other stakeholders to make the integration process as smooth as possible. The integration of both businesses is taking place now and of course during the transition, customers will continue to receive the same high-quality products and services from both sides which they have come to expect.
AZ was founded by John and Grace Lang in 1976 and is based in Richmond, BC. The company is a category leader in the home décor business and a trusted partner for key accounts, eCommerce and a long-term supplier to hundreds of independent stores across Canada. AZ has curated a product selection to suit all price points, and has a sterling reputation based on quality, authenticity, and extraordinary customer service.
“Our family’s business focus has shifted to financing, private equity and debt investing, real estate and the seniors housing and care sector. As such, we are so pleased to have AZ’s home décor business and brands carry on under CTG’s stewardship and we look forward to seeing the AZ brands and products continue to bring delight, comfort and beauty to peoples’ homes for decades to come”. -- The Lang family
CTG Brands Inc., founded in 1985, is an industry leader in wholesale efficiency and strategic merchandising in the North American retail industry. CTG imports and distributes over 12,000 products in varied inventory and impulse buys. CTG can create a strategic merchandising plan for each store with expertise, insights and services. Such integrated services include supplier management, East and West Coast distribution centres, East and West coast customer service teams, expedient worldwide shipping, and deep inventory.