Herman Miller to purchase Knoll furniture company for $1.8 billion - MLive.com

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GRAND RAPIDS, MI — Herman Miller announced Monday that it plans to buy Pennsylvania-based furniture manufacturer Knoll Inc. for $1.8 billion.

Herman Miller, which is based in Zeeland, said final approval for the deal hinges upon the approval of Herman Miller and Knoll shareholders.

A joint news release issued by the two companies said the deal is expected to close in the third-quarter of this year, and that the combined company is expected to have $3.6 billion in annual revenue. The deal would also “create the preeminent leader in modern design, catalyzing the transformation of the home and office sectors at a time of unprecedented disruption,” the companies said.

“This transaction brings together two pioneering icons of design with strong businesses, attractive portfolios and long histories of innovation,” Andi Owen, president and CEO of Herman Miller, said in a statement.

“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.”

Owen would serve as president and CEO of the combined company. Andrew Cogan, Knoll chairman and CEO, would retire upon closing of the deal.

Herman Miller had 3,621 workers in West Michigan as of last year, according to The Right Place, a Grand Rapids-based economic development organization.

Knoll operates plants in East Greenville, Pennsylvania, Grand Rapids, Muskegon, as well as Toronto, according to its website. It also has two plants in Italy.

In January 2020, Knoll announced it was closing its Grand Rapids-area plant, which is located in Kentwood. The closure was expected to result in the loss of 200 jobs.

Herman Miller officials did not immediately respond Monday morning when asked how the purchase would affect the company’s West Michigan operations.

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