MILAN - Office furniture giant Haworth has acquired high-end Italian furniture maker Luxury Living Group through its Italian subsidiary Poltrona Frau Group.
Luxury Living will operate under Poltrona's Lifestyle Design Division, along with brands including Cappellini, Cassina, and Luminaire. The purchase price was not disclosed.
Poltrona CEO Dario Rinero said he was considering the purchase for years. Luxury Living recently fell on tough times financially, and that persuaded Rinero to pull the trigger - as he told WWD "we feel we can help a great group that has a strong potential."
Rinero said he felt the company just needed a chance to operate within a larger group.
Haworth is the third largest contract furniture maker in North America. Based in Holland, Michigan, the company employs 7,500 and makes contract and office furniture; including systems furniture, office chairs and seating, desks, filing/storage, casegoods, tables and upholstered guest chairs. It saw a revenue increase of 5 percent from 2018 to 2019.

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