FORT MILL, S.C. — Broad River Retail has acquired six Ashley Stores and a distribution center in Oregon from CTR Associates, expanding the furniture retailer into its seventh state and now operating 45 retail locations.  

“This is the most significant expansion move in Broad River Retail’s history, and it gives us instant scale in the Northwest,” said Charlie Malouf, CEO of Broad River Retail. “With these six stores, we are tripling our Northwest store count from three to nine. Our goal was never for the Northwest to simply be a spoke in our network. We wanted to build another wheel, and this Oregon expansion gives us the team and foundation to do that.” 
 
The acquisition includes six Ashley Stores across Oregon, giving Broad River Retail a meaningful presence in the Portland metro area and multiple key markets statewide. The six stores include three Portland-area locations in Clackamas, Jantzen Beach and Tigard, along with stores in Corvallis, Salem and Springfield. The transaction also includes a distribution center in Salem that supports the Oregon retail network.  

Broad River Retail plans additional investment across the Oregon market, including a remodel of its Clackamas store that will convert the location to Ashley’s 7.0 store concept, including an in-store Ashley Outlet.

Broad River Retail’s short-term goal is to grow the Oregon business to $40 million in annual revenue. BRR projects between $340 million and $350 million in delivered sales in 2027, with a longer-term goal to reach $500 million in annual delivered sales by 2030.  
 
“This acquisition is another major step in the growth and expansion of Broad River Retail,” said Manny Rodrigues, President and Chief Operating Officer of Broad River Retail. “We’re excited to welcome more than 70 new Memory Makers and build on the relationships these teams have established in their communities. By investing in our people, our stores and the infrastructure that supports them, we’re laying the foundation to serve our Oregon guests and grow in this region for years to come.”  

Jennifer Smith, who previously served as Director of Sales for CTR Associates’ Ashley Stores, will continue leading the region as Broad River Retail’s Regional Manager overseeing these six stores in Oregon. 

“Our team has worked hard to build a strong business and lasting relationships with the communities we serve across Oregon,” said Jeff Kelly, President of CTR Associates. “As we look to the future, we’re confident Broad River Retail will build on that foundation, invest in the people and continue to serve guests with the care and commitment they’ve come to expect.”  

“This transaction was more than a year in the making and would not have been possible without the trust, collaboration and tremendous work of both teams,” Malouf said. “Completing the data integration, software conversion, systems training and onboarding before our first day of operations added another level of complexity to an already significant transaction. I’m incredibly proud of the Memory Makers and CTR team members who worked together to make that transition possible.”  

In conjunction with the transaction, Kelly will contribute $50,000 to Broad River Retail’s The Lighthouse Fund, an employee relief fund that provides financial assistance to Memory Makers experiencing crisis or hardship. 

The Oregon acquisition builds on Broad River Retail’s recent growth in the Northwest. In December 2025, the company opened a three-story, 100,000-square-foot Ashley Store and Outlet in Spokane, Washington, and an Ashley Store in Moscow, Idaho, in April. BRR also added an Ashley Store in Richland, Washington, via an acquisition in May.  Broad River Retail also expanded elsewhere in 2026, including opening its first Ashley Store and Outlet in Maine in May and a new Ashley Store in Statesville, North Carolina, in August. The company plans to open its 46th retail location in Orangeburg, South Carolina, in mid-November, marking 13 locations added to Broad River Retail’s network over the past 12 months.  

About Broad River Retail

Founded in 2003 and headquartered in Fort Mill, South Carolina, Broad River Retail is one of the largest independently owned Ashley licensees in the United States. The privately held company operates 45 retail locations across seven states and employs more than 1,000 Memory Makers. Broad River Retail is the largest furniture retailer in the Carolinas and was ranked No. 33 on Furniture Today’s 2026 Top 100 U.S. Furniture Retailers list.  

Media Contact: 

Tyler Trill, Sr. Communications Manager 
ttrill@shopashley.com