by Company renamed HH2 Home, appoints Angela Hsu, granddaughter of Green River founder Omori Hsu, as CEO
LOUISVILLE, Ky. — A division of Asian furniture manufacturer Green River Group has purchased full line furniture resource Hillsdale Furniture, a move that gives the company a new chance at success in the U.S. marketplace.
Company Senior Vice President John Elting announced to dealers on Monday that Mellow River, a division of the manufacturer has finalized the acquisition and that the company’s name is being changed to HH2 Home, a nod to its beginnings as Hillsdale House more than 30 years ago. The company also has named Angela Hsu as its new chief executive officer, a position held by Brian Hendricks for the past five and a half years.
Hsu is the daughter of Steve Hsu, a top executive at Green River Group and the son of founder Omori Hsu. Angela Hsu is also executive vice president of Green River Group according to her LinkedIn profile.
“This will bring us so much more opportunity as we will not only be able to continue the businesses in which we excel, but potentially enjoy efficiencies created by vertically integrating into their manufacturing network, which includes everything from lumber and kitchen cabinets to bathroom vanities and mid-priced and high-end case goods,” Elting said. “ The best news is that much of our core team will remain intact, and we will be able to return some of our valuable employees who are already off to seek new opportunities.”
The announcement ends weeks of speculation about the future of Hillsdale Furniture, which industry officials speculated had closed its doors in recent weeks. In late May, Hillsdale announced to local government officials in Vietnam that it was closing its Vietnam office, “due to the difficult business situation of the parent company, leading to the inability to maintain the management and operation of the representative office in Vietnam.”
In his July 1 letter to dealers, Elting added that members of the HH2 team recently were able to meet with Angela Hsu and her team, which includes Sandy Hu, the company’s new chief financial officer, as they were able to communicate a new vision for the company moving forward.
“We have a lot of work to do, but we are excited to move forward,” said Elting, who added that the company “recently experienced a firestorm of unfortunate circumstances that led to a choice — liquidate or look for an acquisition. Obviously we looked for an acquisition.”
Elting also said that with the transition to new ownership, its systems, retailer IDs, item numbers and product descriptions will remain in place.
