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PCE, a leading investment bank for middle-market companies, is pleased to announce that it served as the exclusive financial advisor to Grand Appliance in its acquisition of The Appliance Barn, a third-generation family-owned appliance retailer based in Kalona, Iowa.
With this acquisition, Grand Appliance, a fourth-generation family business with 29 retail locations across the Midwest, expands its footprint in Eastern Iowa and accelerates its regional growth strategy. The transaction includes plans for a new 42,000 square foot destination showroom and operations facility in the region.
“This acquisition represents a significant milestone in our expansion and investment strategy,” said Anish Gauri, President and CEO of Grand Appliance. “We’re thrilled to partner with The Appliance Barn, a company that shares our values and customer-first philosophy. With this move, we’re strengthening our commitment to Iowa and delivering an even better retail experience.”
Gauri added, “PCE was an invaluable partner in this transaction. Their insight, responsiveness, and industry expertise made this a smooth and highly strategic process. We’re grateful for their support in helping us take this important step forward.”
Nicole Kiriakopoulos, Managing Director at PCE, led the transaction. “This deal underscores Grand Appliance’s dedication to long-term growth through strategic acquisitions,” said Kiriakopoulos. “It’s a compelling fit between two family-owned businesses with aligned cultures and market visions.”
This transaction further strengthens PCE’s track record in advising consumer and retail clients on strategic M&A initiatives.
About Grand Appliance: Founded in 1930, Grand Appliance is a fourth-generation family-owned appliance retailer headquartered in Sturtevant, Wisconsin. The company operates 29 retail locations across Illinois, Indiana, Iowa, and Wisconsin, offering low everyday pricing, expert sales support, and professional delivery and installation. Grand Appliance is known for its designer showrooms, large in-stock selection, and commitment to providing a seamless customer experience.
About The Appliance Barn: Established in 1960, The Appliance Barn is a trusted, third-generation family-owned appliance and mattress retailer located in Kalona, Iowa. Known for its high-touch customer service and community presence, The Appliance Barn has built a loyal customer base through a focus on quality, personalized service, and long-standing local relationships.
