EAST GREENVILLE, Pa., Feb 7 – Knoll, Inc. (NYSE: KNL – News) currently announced that it has concluded to acquire Richard Schultz Design, Inc., a engineer and manufacturer of outside seat for a residential, liberality and agreement bureau seat markets.
Andrew B. Cogan, Knoll CEO, said, “The merger of Richard Schultz reflects a ongoing seductiveness in remixing a business with high design, high domain specialty offerings that interest to both blurb buyers and consumers worldwide.”
“Richard Schultz began his career as a engineer with Knoll and co-founded his association with his son Peter in 1992. Together, they have built an general repute for exploring new materials and forms for outside furniture. We demeanour brazen to a continual success of a Richard Schultz brand,” he added.
The Company, that maintains a flagship salon in New York`s DD Building, sells a iconic 1966 Schultz Leisure Line and 1960 Petal Table Collection, creatively designed for Knoll, as good as contemporary outside seat designs. Its designs are enclosed in a collections of The Museum of Modern Art, a Victoria and Albert Museum and a Philadelphia Museum of Art.
Peter Schultz said, “Our endowment winning designs in a complicated tradition are a ideal element to a Knoll portfolio. We demeanour brazen to a products fasten a KnollStudio Collection of residential and workplace furniture.”
Richard Schultz Design maintains a selling and pattern studio in Palm, PA.
The merger is approaching to tighten on or about Mar 1.
About Knoll
Knoll is a target of a 2011 National Design Award for Corporate and Institutional Achievement from a Smithsonian`s Copper-Hewitt, National Design Museum. Since 1938, Knoll has been famous internationally for formulating workplace and residential furnishings that inspire, develop and endure. Today, a joining to complicated design, a bargain of a workplace and a loyalty to tolerable pattern has yielded a singular portfolio of products that respond and adjust to changing needs. Knoll is aligned with a U.S. Green Building Council and a Canadian Green Building Council and can assistance companies grasp Leadership in Energy and Environmental Design LEED workplace certification. Knoll is a first unite of a World Monuments Fund Modernism during Risk program.
Investors:
Barry L. McCabe
Executive Vice President and Chief Financial Officer
215 679-1301
bmccabe@knoll.com
Media:
David E. Bright
Senior Vice President, Communications
212 343-4135
dbright@knoll.com
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