Masco sells Tvilum
January 9, 2014-- Furniture Today,
Los Angeles - Revolution Capital Group has announced its acquisition of Tvilum ApS, the Denmark-based ready-to-assemble furniture manufacturer, from Masco Corp.
Tvilum produces 8 million items of furniture each year at its four factories in Denmark and distributes them to markets around the world, including Europe and the Americas.
Building and home products supplier Masco had announced its intention to sell the subsidiary early last year. Terms of the deal were not disclosed.
Tvilum "is a truly global business that fits well with Revolution's strategy to expand our portfolio into Europe," said Robert Loring, founder and managing partner of Revolution Capital Group, also the private equity owners of companies including The Tampa Tribune newspaper. "It affirms our commitment to acquire outstanding businesses and drive growth in international markets."
Tvilum employs approximately 1,000 people and was founded in 1965, a press release said.
Related Content By Author
Was Ashley's deal with JCPenney the biggest retail deal this week?