Roche-Bobois sells stake to French investment firm
By Furniture Today Staff -- Furniture Today, November 25, 2001
NEW YORK — NEW YORK — Roche-Bobois, the French furniture group and parent company of retailer Roche-Bobois USA, has sold a 12% capital stake to French investment company Banexis Capital Partenaires.
Roche-Bobois said the move is intended to speed up international development, according to a report. However, it's not expected to have an immediate impact in the United States, where it has 36 franchised stores, said Michael Lerner, president of Roche-Bobois USA.
Before the sale, Roche-Bobois' capital was equally divided between the group's two founding families, Roche and Chouchan, in two separate companies. The newspaper Financial Times said the company is now looking to "simplify its structures, adopt more modern management methods and ensure that it has more financial resources at its disposal."
Last month, Roche-Bobois USA opened a store in Atlanta, the 201st Roche-Bobois worldwide.
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