MUSCATINE, IA -- HNI Corporation (NYSE: HNI), a leader in office furniture, announced its entry into educational furniture through the acquisition of Sagus International Inc. for an undisclosed amount of cash.
Privately-held Sagus, with three manufacturing units, is reported to be the second largest source of educational furniture in North America. It's three operating units combine for annual sales of more than $90 million, according to a news release from HNI. Those units include:
Artco Bell Corporation - a provider of furniture for the K-12 education segment, located in Temple, TX;
Midwest Folding Products Corp. a provider of cafeteria and folding tables for the education, hospitality, and commercial market segments, located in Chicago, IL; and
- LSI Corporation of America Inc., a provider of laminate caseworks and furniture for the education and healthcare market segments, located in Plymouth, MN.
HNI said Sagus will continue to operate as a "focused, stand-alone business with a unique brand position and strategy."
HNI serves home and workplace environments. The company lays claim to being the second largest office furniture manufacturer in the world wiith brands including HON, Allsteel, Gunlocke and Paoli. The company is also a leader in gas and wood-burning fireplaces.
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