Saturday, February 11, 2012

KNOLL AGREED TO ACQUIRE RICHARD SCHULTZ DESIGN

 

Knoll has agreed to acquire Richard Schultz Design, Inc., the designer and manufacturer of outdoor furniture for the residential, hospitality and contract office furniture markets. The acquisition is expected to close on or about March 1. 
 
Andrew B. Cogan, Knoll CEO, said, "The acquisition of Richard Schultz reflects our ongoing interest in remixing our business with high design, high margin specialty offerings which appeal to both commercial buyers and consumers worldwide."
The Company, which maintains a flagship showroom in New York's D&D Building, sells the iconic 1966 Schultz Leisure Line and 1960 Petal Table Collection, originally designed for Knoll, as well as contemporary outdoor furniture designs. Its designs are included in the collections of The Museum of Modern Art, the Victoria and Albert Museum and the Philadelphia Museum of Art.

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