MUSCATINE, Iowa - HNI Corp. has acquired Design Public Group, a leading e-commerce distributor of high-design furniture and accessories for the office and home.
Design Public's assets include consumer-facing e-commerce websites www.designpublic.com and www.danishdesignstore.com, along with a platform and capabilities serving the commercial office and architectural and design channels.
“We are excited to have the team at Design Public join HNI,” said Jeff Lorenger, HNI CEO. “This acquisition aligns nicely with our long-term strategies. Design Public is a digitally native company bringing skills and capabilities to help us accelerate our digital and e-commerce initiatives. In addition to supporting our traditional distribution models, we will also increase our reach to a broader consumer group that increasingly buys furniture online.”
The transaction is expected to close at year-end, will not have a material impact on 2020 sales or profit, and will be funded from HNI's cash on hand. Mathew Lieb and Todd Thedinga, the joint owners of Design Public Group, will join HNI upon completion of the acquisition. Lieb will serve as President and Todd Thedinga will serve as Vice President, Finance and Operations, of Design Public Group.
HNI Corp., the fourth-largest contract furniture maker on the FDMC 300, makes desks, credenzas, filing/storage, office systems, office chairs, bookcases, conference tables, home office furniture and glass walls. It saw sales of $1.7 billion in 2018.
HNI owns Gunlocke, Allsteel, HON, Maxon, Paoli, HBF, Lamex, and bpergo. It runs ten manufacturing plants and employees 8,500 across the U.S.
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