Sierra-Rockies Corp. to Acquire Furniture Maker
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Sierra-Rockies Corp., Calabasas, said it has signed a letter of intent to purchase LP & M Group Inc. The company said the acquisition is a reverse merger and is part of Sierra-Rockies’ Chapter 11 reorganization plan. Creditors and shareholders of Sierra--Rockies will retain approximately a 20% holding in the new company, which will be known as LP & M Group Inc.
LP & M Group Inc. manufactures and markets leather furniture.
