A new contract furniture behemoth has emerged.
Herman Miller officially closed on its $1.8 billion acquisition of Knoll this week. Announced on April 19, the acquisition combines two of the top 5 contract furniture makers in North America.
And with the closing comes a new name: MillerKnoll. The company has submitted a proposal to its shareholders to seek approval for the name change.
“We are excited to introduce MillerKnoll, a collective of dynamic brands coming together to design the world we live in,” MillerKnoll President and CEO Andi Owen said in a statement. “Our industry — and the world in general — is changing rapidly. Design is the way we imagine and shape a better future. In coming together, we will define and lead this transformation, like we have other transformations in our histories.”
The two companies collectively represent 19 brands and have a presence across more than 100 countries, a global dealer network, 64 showrooms globally, more than 50 physical retail locations, and global multi-channel e-commerce capabilities.
“We are a group of people and brands guided by a shared vision, common values, and a steadfast commitment to design,” Owen said. “As MillerKnoll, we’ll push and inspire each other to innovate and design the future for all the places where life happens.”
Herman Miller spent months trying to acquire Knoll, its longtime competitor. Led by Owen, MillerKnoll's executive team will be made up of leaders from both Herman Miller and Knoll.
Herman Miller is ranked #4 overall in the FDMC 300 list of largest North American wood products producers, and second in the segment. Knoll ranked 14 at the time of sale and #5 in the market.
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