Herman Miller joins hands with Knoll
Herman Miller, Inc. and Knoll Inc. has announced that they have entered into a definitive agreement under which Herman Miller will acquire Knoll in a cash and stock transaction valued at $1.8 billion. The transaction is expected to close by the end of the third quarter of the calendar year 2021.
Together the brands will create the preeminent leader in modern design, catalysing the transformation of the home and office sectors at a time of unprecedented disruption. Herman Miller and Knoll collectively have 19 leading brands, a presence across over 100 countries worldwide, a global dealer network, 64 showrooms globally, more than 50 physical retail locations and global multi-channel ecommerce capabilities.
Andi Owen, President and Chief Executive Officer of Herman Miller, said, "As distributed working models become the new normal for companies, businesses are reimagining the office to foster collaboration, culture and focused work while supporting a growing remote employee base. At the same time, consumers are making significant investments in their homes. With a broad portfolio, global footprint and advanced digital capabilities, we will be poised to meet our customers everywhere they live and work. Together, we will offer a deep portfolio of brands, technology, talent and innovation, to create meaningful growth opportunities in all areas of the combined business.”
Additional information on the transaction and related materials can be found on their joint transaction website.
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