furniture icons herman miller and knoll to merge in time for the return of the workplace
herman miller and knoll hope to grow as new home offices are established and in-person offices are reorganized following the pandemic.
furniture design company herman miller today announces plans to take over its peer knoll in a $1.8 billion deal. the acquisition is expected to close at the end of the third quarter this year as pandemic restrictions ease. the move marks the two companies’ plans to take advantage of workplace renovations as offices across the globe begin to bring their employees back to work.
We’re so excited to announce our agreement to combine with @Knoll_Inc. Together we will be the preeminent leader in modern design, catalyzing the transformation of the home and office sectors at a time of unprecedented disruption. Read more: https://t.co/GIt9xIepjb pic.twitter.com/6uaiGGxQmP
— Herman Miller (@HermanMiller) April 19, 2021
herman miller and knoll will combine their deep portfolios of innovation to introduce a single new leader in modern design. the two companies each have a long history dating back to the early 20th century spanning the modernist movement in architecture and design. iconic pieces include herman miller’s eames chair and ottoman designed by charles and ray eames and knoll’s barcelona chair designed by mies van der rohe — two of the most significant design pieces of the century.
image courtesy of herman miller
although herman miller’s overall revenue fell during the COVID-19 pandemic, the merge will knoll marks a new opportunity for growth. with a focus on office furniture, the companies expect to benefit from the future of the workplace — as home offices are established and in-person office environments are rearranged in accordance with social distancing guidelines. according to bloomberg, the merger would help the companies ‘feed into the transformation of home and office as work continues to be split between the two.’
image courtesy of knoll
andi owen, president and CEO of herman miller and the future combined company comments: ‘this transaction brings together two pioneering icons of design with strong businesses, attractive portfolios and long histories of innovation. as distributed working models become the new normal for companies, businesses are re-imagining 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.’
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