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Slide #4. Herman Miller, Inc. — Maharam Fabric Corporation
Herman Miller, Inc. (NASDAQ:MLHR)
Maharam Fabric Corporation
Herman Miller, Inc. (NASDAQ: MLHR), today announced an agreement to acquire Maharam Fabric Corporation ("Maharam"), a New York-based, global designer and provider of high quality interior textiles for commercial, healthcare, and residential interiors. The transaction is scheduled to close April 29, 2013. Maharam, with revenues of approximately $105 million in 2012, will be purchased for approximately $156 million in cash.
Herman Miller researches, designs, manufactures and distributes interior furnishings for use in various environments. Co.'s segments consist of North America Contract, which designs, manufactures and sells furniture and textile products for work-related settings throughout the U.S. and Canada; International Contract, which designs, manufactures, and sells furniture products, for work-related settings in the Europe, Middle East and Africa, Latin America and Asia-Pacific; and Retail, which sells modern design furnishings and accessories to third party retailers, as well as direct to consumer sales through e-commerce, direct mailing catalogs and Design Within Reach and HAY ApS studios.
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Strong Buy (4.00 out of 4)