Quadrant Private Equity-backed Amart Furniture has snapped up rival Freedom Furniture to create a retailing giant with $1 billion in sales that could list on the ASX as soon as next year.

The combined businesses will continue to operate as standalone brands, although a name change is likely ahead of any possible public float. The larger group will operate 126 stores across Australia and New Zealand with 2200 staff and more than $100 million in annual earnings.