Modern furniture giant Herman Miller Inc. is entering into a deal that will create a powerhouse in design-driven furniture at a time when consumers are focused on their homes and home offices.
Herman Miller, a company that is known for its high-performance “task” chairs and whose brands include Design Within Reach, has agreed to acquire rival Knoll Inc. for $1.8 billion. Under the terms of the deal, Knoll shareholders will receive $11 in cash and 0.32 share of Hermann Miller for each Knoll share owned. Upon the completion of the deal, current Herman Miller shareholders will own about 78% of the combined entity, while Knoll shareholders will hold about 22%.
“This highly complementary combination will create the pre-eminent leader in modern design, catalyzing the transformation of the home and office sectors at a time of unprecedented disruption,” the companies said in a joint statement.
Source: Chain Storeage
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 
