Haworth to acquire majority stake in Poltrona Frau
February 6, 2014,
HOLLAND, Mich. — Poltrona Frau, the high-end Italian furniture source famous for its iconic armchairs, will sell a majority stake to Michigan-based contract furniture manufacturer Haworth, the mlive website reports.
Haworth will buy a 58.6% stake in the company for 2.96 euros per share from Poltrona Frau's largest shareholders, Charme Investments and Moschini. A company spokesman didn't give a total price estimate.
The transaction, which must be approved by antitrust authorities, is expected to be completed in April, mlive said.