HUNTINGBURG, IN — OFS Brands Inc., a North American furniture manufacturer, on Aug. 19 announced that it has signed a binding letter of intent to acquire certain assets of Loewenstein Inc., a furniture manufacturer specializing in the hospitality, corporate and educational market segments. Final terms of the acquisition were not disclosed.
“We are very excited about the potential this acquisition will offer, and we are looking forward to working with the many talented people currently employed by Loewenstein,” said OFS Brands’ President and CEO, Hank Menke. “Our primary focus will be to cultivate the significant opportunities within the hospitality market as we demonstrate our commitment and determination to enter new growth markets, which can best leverage our core competencies.”
“The acquisition of Loewenstein allows for our seamless expansion into the hospitality market,” said Mike Wagner, Sr. VP of sales and marketing. “Our marketing strategy will be to protect the individual character of the Loewenstein brand and allow it to operate independently in the marketplace. This is a great opportunity for our company, and we are very excited about Loewenstein’s future potential.”
Have something to say? Share your thoughts with us in the comments below.