HNI Corp Buys Hickory Business Furniture

Posted by MCC on March 18th, 2008 at 09:37pm

St. Louis, Missouri based Furniture Brands has entered into an agreement to sell it’s Hickory Business Furniture division. HNI Corp, the 2nd largest office furniture manufacturer in the world, will be paying 75 million dollars in cash for the Furniture Brands unit.

The transaction was announced on March 17th, 2008 and is expected to be finalized before the end of the first quarter of the year.

Furniture Brands officials have said the company wishes to focus more on the residential market.

Under Furniture News