Steinhoff buys struggling Hukla
By Furniture Today Staff -- Furniture Today, January 23, 2005
High Point — Hans Klaussner's German furniture company Hukla has been sold to European and South African furniture giant Steinhoff International Holdings. A sale price was not disclosed.
Hukla filed a reorganization plan with the German courts last summer, asking that it be allowed to continue manufacturing. The company said it was facing financial difficulties due to sagging furniture sales in Europe.
Hans Klaussner is owner and chairman of Asheboro, N.C.-based Klaussner Furniture Inds. and other business interests in Europe.
Dave Bryant, Klaussner's CFO, said last week Hukla has no ownership in Klaussner, and the only relationship between Hukla and the company was that Hans Klaussner owned both of the companies.
Steinhoff is one of the top five furniture companies in Europe and the largest in Africa, with 85 factories and 20,000 employees. It makes a range of household goods, mainly mattresses, case goods and lounge furniture, and also produces raw materials for household goods. Steinhoff also is a manufacturing partner with La-Z-Boy and Sealy for overseas operations.
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Hukla sold to Steinhoff International
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