Haworth's Lifestyle Design buys Italian design brand Interni
November 22, 2021 | 8:21 am CST
Haworth Lifestyle buys Italian design firm

Haworth Lifestyle collection acquires Italian deign firm.

MILAN - Haworth Inc. said its Italian unit Lifestyle Design had signed an agreement with Progressio SGR to buy the private equity firm's majority stake in Italian high-end interior design group Interni. 

The Lifestyle Design from Haworth, which ranks 7th in the FDMC 300, controls Italian furniture brands such as Poltrona Frau, Cappellini and Cassina as well as Ceccotti, DZine, Karakter, JANUS et Cie, Luminaire e Luxury Living.

Interni, which operates through 13 stores in Italy and the UK, is expected to report revenues of 40 million euros in 2021, a statement said.

Progressio, which specializes in investing in Italian small- and medium-sized enterprises, bought a 70% stake in Interni in 2019. The remaining 30% is owned by the Cazzaniga family.

Financial details of the transaction were not disclosed.

"Through this acquisition, Lifestyle Design carries on its commitment to join in federation the best product and distribution businesses operating in the high-end furniture industry", Lifestyle Design CEO Dario Rinero said.

Founded in 1933 in a furniture district north of Milan, Interni is still led by the Cazzaniga family.

CEO Stefano Cazzaniga, who took over in 2019 from his father Giuseppe, will report to Rinero.
 

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Larry Adams | Editor

Larry Adams is a Chicago-based writer and editor who writes about how things get done. A former wire service and community newspaper reporter, Larry is an award-winning writer with more than three decades of experience. In addition to writing about woodworking, he has covered science, metrology, metalworking, industrial design, quality control, imaging, Swiss and micromanufacturing . He was previously a Tabbie Award winner for his coverage of nano-based coatings technology for the automotive industry. Larry volunteers for the historic preservation group, the Kalo Foundation/Ianelli Studios, and the science-based group, Chicago Council on Science and Technology (C2ST).