Office Furniture Maker Buys W. German Company
HOLLAND, Mich. — Furniture manufacturer Haworth Inc. has purchased a European-based seating company for nearly $30 million, Haworth officials announced.
Haworth, one of the world’s largest manufacturers of office systems furniture, acquired the Comforto Group from Vickers Public Ltd., a $1.5-billion British holding company known for producing Rolls Royces and the world’s first military tanks.
A Vickers spokesman said the transaction was a cash deal for $29.5 million.
Comforto, based in Ahlen, West Germany, produces office chairs and conference tables as well as seating for conference rooms and auditoriums. The company has 500 employees worldwide and had sales of about $50 million last year.
Haworth, with 2,800 employees worldwide, had sales of about $400 million last year, the Holland-based company said.
Comforto’s European and U.S. operations will operate as subsidiaries of Haworth and will continue under current management, Haworth officials said.
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