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New Deal


Announced

Completed

HNI completed the acquisition of Kimball International for $485m.

Financials

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Transaction Value£405m
Consideration TypeOrdinary Shares, Cash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium81%
One Off Charge-

Tags

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furniture

Household Furnishings

Majority

commercial furnishings

Domestic

Acquisition

United States

Single Bidder

Friendly

Public

Completed

Synopsis

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HNI, one of the largest office furniture manufacturers, completed the acquisition of Kimball International, an omnichannel commercial furnishings company, for $485m. “The completion of the Kimball International acquisition represents a new chapter as we bring together two strong, successful companies with similar cultures and well-established families of brands. The combined companies will have an unmatched comprehensive product offering positioned to benefit from post-pandemic trends. I’m privileged to lead this talented team and look forward to the significant benefits we will deliver to our shareholders, members, dealers, and customers," Jeff Lorenger, HNI Chairman, President and CEO.

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