JASPER, IN - Business furniture manufacturers Jasper Group and Jofco have signed a letter of Intent to investigate a merger of the two companies.
An announcement posted by Jofco states there will be a 30- to 60-day due diligence period to confirm the transaction and develop a plan of action, after the execution of the merger agreement.
"The goal is to have the merger process concluded by the end of the year," says Jofco.
The plan calls for the Jofco brand to continue operations with its own sales team, field sales representatives, and customer service as part of the Jasper Group organization.
"Together we hope to invest substantial resources creating a synergistic partnership that drives profitability all around," says Jofco's announcement. "There will be further details forthcoming as we go through the process of completing the merger."
Jofco, fourth generation privately-held, family-owned company, is focused on manufacturing. Celebrating its 90th year in business in 2012, Jofco operates two production facilities in Jasper, IN totaling over 600,000 sq. ft. Jofco has a permanent showroom facility in Chicago and New York.
Founded in 1929, Jasper began as Jasper Seating Company, a manufacturer of well-crafted wood chairs. It now manufactures business furnishings, public-space furniture under the Community brand, and furniture for hospitality markets under the Klem brand.
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