Nolan Advised Goedeker’s on its Sale to 1847 Holdings

DATE: April 05, 2019

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Who is Our Client?

  • Goedeker’s, headquartered in St. Louis, MO, is a one-stop e-commerce destination for home furnishings including appliances, furniture, bath and kitchen fixtures, décor, lighting and home goods. Goedeker’s competes on selection, unbeatable low pricing and exceptional customer service from shopping experience to sale through delivery and returns.
  • Founded in 1951, Goedeker’s has evolved from a local brick and mortar operation serving the St. Louis metro area to one of the 30 largest appliance retailers in the country.
  • Goedeker’s is family owned and operated and started as a TV and radio repair shop in Ben Goedeker’s home, then expanded to appliance sales in a 1,200 sq. ft. showroom.
  • After Ben’s Passing, his son, Steve Goedeker, took over the family business, expanding to a 22,000 sq. ft location.
  • The appliance store became a household name by 1989, and in 1990, Steve’s siblings, Mike and Janet, joined him in the business.
  • During the 2008 recession, Steve launched an e-commerce website selling appliances, furniture, mattresses, plumbing and housewares in an effort to weather the economic downturn.
  • By 2012, Goedeker’s decided to focus more on their online business, as they had grown to become the majority of their business. Their 50,000 sq. ft store was converted to a 5,000 sq. ft. showroom and the remaining 45,000 sq. ft was used for warehouse space for their online operations.
  • Today, 95% of Goedeker’s sales originate through their website,
  • Goedeker’s is the rare retailer that is still closed every Sunday and sends their employees home by 6 p.m. on all other days so they can have dinner with their families. The website is open 24/7.

Why Did Goedeker’s Hire Nolan?

  • After years of business growth and innovation, Steve Goedeker desired a transition to retirement in order to pursue his passion for helping the poor.
  • Steve engaged with Nolan to find a partner that could continue his family’s legacy and grow Goedeker’s e-commerce presence.

What Value Did Nolan Deliver?

  • Nolan ran a confidential and competitive sales process that delivered 1847 Holdings, a publicly traded partnership with deep expertise within the e-commerce and specialty retail niches.
  • 1847 Holdings has the capabilities and passion for expanding the e-commerce side of the business that Goedeker desires as the future of his family company

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