Thursday, October 10, 2019

Herman Miller Agrees to Acquire Majority Interest in HAY A/S


Highlights
  • Further accelerates global growth of the HAY brand
  • Increases Herman Miller’s ancillary product offering
  • Expands Herman Miller’s retail and contract furnishing footprint
Herman Miller, Inc. (NASDAQ: MLHR), the global designer and furniture manufacturer, announced today it signed an agreement to acquire an additional 34% equity interest in HAY A/S (“HAY”) for approximately $78 million. This transaction follows a similar transaction in 2018 in which Herman Miller acquired a 33% equity interest in HAY. Upon closing the current transaction, Herman Miller will own a majority 67% interest in HAY; Rolf and Mette Hay, Co-founders and Creative Directors of HAY, own the remaining 33% of the equity in HAY. CONTINUE READING

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