Herman Miller and Knoll to Combine, Creating the Preeminent Leader in Modern Design, Catalyzing the Transformation of the Home and Office
Brings Together Complementary Portfolios of Exceptional Brands for Commercial and Residential Settings
Enhances Scale and Capabilities to Drive Growth and Profitability
Accelerates Digital Transformation
Drives Strong Financial Benefits Including $100 Million in Expected Run-Rate Cost Synergies Within Two Years of Closing
Supported by Shared Culture and Commitment to Design, Innovation, Operational Excellence and Sustainability
Companies to Host Conference Call and Webcast at 8:30 a.m. ET Today
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ZEELAND, Mich. and EAST GREENVILLE, Pa., April 19, 2021 /PRNewswire/ -- Herman Miller, Inc. (NASDAQ: MLHR) and Knoll Inc. (NYSE: KNL) today announced that they have entered into a definitive agreement under which Herman Miller will acquire Knoll in a cash and stock transaction valued at $1.8 billion. The transaction, which has been unanimously approved by the Boards of Directors of both companies, is expected to close by the end of the third quarter of calendar year 2021, subject to the satisfaction of closing conditions.