Onyx Buys 18 Florida Furniture Retail Properties

Florida furniture retailers and landlords should expect ownership changes at Kane's properties as closings continue into early 2027.

Updated on Nov. 4, 2026 in Retail

Onyx Buys 18 Florida Furniture Retail Properties

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Onyx Partners Ltd., a Massachusetts private equity firm, has acquired Kane's Furniture, a Pinellas Park-based Florida furniture retailer with nearly 80 years of history. The deal covers 18 retail properties across Florida, with 11 closed in October 2026 and seven scheduled for early 2027, and the purchase price was not disclosed.

Why it matters

The transaction changes ownership of a long-established Florida furniture chain's real estate and retail footprint, which matters to operators weighing the value of physical showroom locations in a competitive regional market. Because Onyx has not disclosed its plans, the reasons for the acquisition and the future direction of the stores remain unclear.

Kane's operates more than 1 million square feet of showroom space across Florida and advertises 17 stores, while the Onyx deal covers 18 retail properties. Eleven properties closed in October 2026, with the remaining seven scheduled for early 2027.

The players

Onyx Partners Ltd.

A Massachusetts private equity firm headquartered in Needham whose principals have completed roughly 100 transactions worth about $2 billion in enterprise value over four decades.

Kane's Furniture

A Pinellas Park-based Florida furniture retailer with nearly 80 years of history and more than 1 million square feet of showroom space across the state.

The details

Onyx is acquiring the properties through a series of closings rather than a single transaction, which means the ownership transition will be completed in stages. Kane's has a long footprint in the Tampa Bay market, having grown from a 1948 showroom in St. Petersburg through acquisitions of Savon Furniture in Sarasota in 1979 and Kane's of Orlando in 1987. Because the purchase price and property-level details were not disclosed, the financial terms of the acquisition cannot be evaluated from the available information.

1948: Maurice A. Rothman opened a furniture showroom in St. Petersburg.
1958: The business opened a roughly 50,000-square-foot St. Petersburg store.
1979: Kane's acquired Sarasota-based Savon Furniture.
1987: Kane's acquired Kane's of Orlando.
October 2026: Onyx closed on the first 11 retail properties.

Market Landscape

Kane's grew through its own acquisitions of Savon Furniture in 1979 and Kane's of Orlando in 1987, so the Onyx transaction reverses that pattern by placing the chain under outside private equity ownership. Private equity buyers of regional retail chains typically acquire the operating business and its real estate together, which is consistent with a deal structured around 18 retail properties.

Operators who lease space from, supply, or compete with Kane's should expect ownership and property arrangements in the Florida market to shift over the next several months. Companies in the Florida furniture retail segment should monitor for any announced changes to store operations, pricing, or inventory following the closings.

The takeaway

Private equity acquisitions of established regional retailers often bring changes to real estate strategy and operations, though the specific direction in this case remains undisclosed. Operators should track the early 2027 closings and any subsequent announcements from Onyx or Kane's about store count, locations, or operating changes.

What happens next

Onyx is scheduled to close on the remaining seven retail properties in early 2027, which will complete the transfer of the 18 properties covered by the deal.