HNI Corporation announced its acquisition of Steelcase for $2.2 billion, emphasizing the complementary strengths of both companies. This deal aims to enhance their combined annual revenue to about $5.8 billion by 2025. Steelcase president Sara Armbruster noted this as a transformative juncture, retaining its brand while operating under HNI leadership. The company has shown resilience post-pandemic, achieving substantial growth with increased demand for office furniture due to rising return-to-office policies, as employee in-person work surged from 34% to 68% in recent years.
"This is a historic moment for Steelcase as we embark on the first step of a transformative combination that will unlock new possibilities for our customers, dealers, and employees alike."
"Steelcase has rebounded from pandemic lockdowns with 12 consecutive quarters of year-over-year gross margin growth, including 7.11% year-over-year growth in the most recent quarter for a reported $779 million in quarterly revenue."
Collection
[
|
...
]