ZEELAND, MI - Herman Miller, Inc. will acquire Maharam Fabric Corporation ("Maharam"), a New York-based, global designer and provider of high quality interior textiles for commercial, healthcare and residential interiors, for $156 million in cash. The transaction is scheduled to close today. A fourth-generation family business founded in 1902 by Louis Maharam, the firm has evolved and grown to be the leader in design-driven textiles for interiors in North America. Maharam had revenues of approximately $105 million in 2012.
The combination of Herman Miller and Maharam is a natural and complementary union anchored in shared values and built on years of business cooperation and personal friendship, according to Brian Walker, CEO of Herman Miller. "Our respective and combined operational strengths and resources provide immediate, mutual strategic leverage," Walker said.
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