September 14, 2000
Homemakers Furniture Partners With Nebraska Furniture Mart

(Omaha, NE) -- Homemakers Furniture of Des Moines, Iowa and its subsidiary, WoodMarc, a furniture manufacturing operation based in Winterset, Iowa, has agreed to be acquired by Omaha-based Nebraska Furniture Mart. Nebraska Furniture Mart is part of the Berkshire Hathaway Furniture Group headed by the legendary investor Warren Buffett. Dave Merschman, President of Homemakers said, "In forming this partnership there will be no change in management or operations. We intend to take advantage of the financial strength and huge buying power offered by this partnership to better serve our central Iowa customers with even better value and selection." Ron Blumkin, President of Nebraska Furniture Mart said, "We are proud to be associated with a great business run by a great family. They will continue to serve their market well because they know and respond to their customers' needs."

Homemakers Furniture is Central Iowa's leading furniture retailer with a 40% market share. It is a family enterprise that was founded in 1974 by Carl and Ina Merschman in a 26,000 sq. ft. facility. It remains a family operation today spearheaded by Dave, Alan, Roger, Terri and Connie Merschman. Homemakers has grown significantly over the past 26 years to now include an 80,000 sq. ft. facility on the east side of Des Moines, Iowa; and a 300,000 sq. ft. facility in Urbandale, Iowa, a western suburb of Des Moines. Homemakers has a staff of 200. The Homemakers in Urbandale is on a 17-acre complex which houses 170,000 sq. ft. of retail showroom and a 130,000 sq. ft. distribution center. Included in the Nebraska Furniture Mart acquisition of Homemakers is WoodMarc based in Winterset, Iowa. WoodMarc operates a 266,000 sq. ft. furniture manufacturing plant with approximately 240 employees. Woodmarc specializes in manufacturing bedroom and home entertainment furniture. Roger Merschman, President of WoodMarc said, "This partnership will help us expand and use our available plant capacity to serve our customers." Homemakers Furniture like Nebraska Furniture Mart is legendary for their large selection and low prices. According to Warren Buffett, "This makes the 7th state where Berkshire has the dominant furniture retailer." Homemaker's becomes part of the Berkshire Hathaway Furniture Group, which has stores in Nebraska (Nebraska Furniture Mart), Idaho, Utah, Massachusetts, New Hampshire, and Texas; and annual sales of over one billion dollars.