At the end of June, Knoll announced an investment of 164 million dollars in shares of the Investindustrial fund, which already owns Flos, B & B Italia, and Louis Poulsen in its subsidiary Design Holding. If integration follows investment, Design Holding will become a major player in contemporary furniture.
Announcing his new shareholder on June 23, Andrew Cogan, Chairman and CEO of Knoll, announced: “I am confident that all of our stakeholders will benefit from their long-term investment in Knoll as well as their commitment to space design on a global scale. ” In a press release, Knoll specifies using the net proceeds of the transaction for general corporate purposes, including to reduce the amount of its borrowings under its credit facility. In addition, provision is made for the appointment of a director appointed by Investindustrial to its board of directors upon closing of this transaction.
For his part, Andrea C. Bonomi, Chairman of the Industrial Advisory Board of Investindustrial, said: “ We are excited to invest in Knoll and its strong leadership team as they continue to grow their constellation of design-driven brands. We believe Knoll has the opportunity to capitalize on the growing importance of design in the way we live and work, and continue to create long-term value. »
Knoll, 80 years of expertise
The Tulip armchair by Eero Saarinen, the Barcelona by Mies von der Rohe, the Diamond Chair by Harry Bertoia, that’s Knoll. Since its creation in the United States in 1935, the brand has produced many iconic pieces, some of which were designed directly by Florence Knoll who took over from her husband in the 1950s. The Danish brand Muuto joined the group in 2017.