Haworth buys Poltrona Frau Group to create global furniture brand
February 16, 2014
US office furniture giant Haworth has acquired a majority stake in iconic Italian design brands including Cappellini, Cassina and Alias as part of its $270 million deal with Italian furniture group Poltrona Frau.
The move creates a major global design brand headed by Haworth, a privately owned company based in Michigan which generated $1.4 billion in sales of its office interior systems and furniture in 2013.
The deal means that Haworth now owns design classics such as Tom Dixon’s 1989 S Chair (above) as well as a huge back-catalogue of iconic products by leading designers.
The Gebrüder Thonet Vienna and Nemo brands now also come under the control of Haworth, as well as Poltrona Frau’s own luxury furniture business.
Haworth Inc yesterday announced that it had bought 58.6% of the group from Charme Investments – a investment vehicle set up by Ferrari chairman Luca Cordero di Montezemolo – and the Moschini family, the previous owners of Poltrona Frau who retained an interest in the company after it was taken over by Charme.