EAST GREENVILLE, Pa., February 7 - Knoll, Inc. (NYSE: KNL) today announced that it has acquired FilzFelt, purveyors of German-milled 100% wool design felt as well as felt floor coverings and architectural applications for the residential, hospitality and contract office furniture markets.
Andrew B. Cogan, Knoll CEO, said, "The acquisition of FilzFelt reflects our strategy of building sales in our high design, high margin specialty businesses which appeal to both commercial buyers and consumers worldwide."
"FilzFelt has built a spirited reputation in the design community for its range of felt products and custom applications as well as its founders' commitment to sustainable design. We look forward to working with the FilzFelt team to expand the FilzFelt brand and market presence," he added.
FilzFelt distributes German-milled 100% wool design felt in 58 colors and five thicknesses and offers a wide range of felt products and full custom capabilities. A biodegradable and renewable material, wool felt is naturally moisture resistant, self-extinguishing, non-directional, available in lightfast and water resistant colors, and provides thermal and acoustic insulation.
Kelly Smith and Traci Roloff, the Company's founders with over 20 years combined architecture and product design experience, will continue with executive roles at FilzFelt. FilzFelt maintains a marketing and design studio in Boston, Ma.
"Throughout our careers we've admired Knoll for its design legacy and dedication to progressive and relevant products. We look forward to expanding the FilzFelt product portfolio and reaching a far broader audience," said FilzFelt co-founder Traci Roloff.
"When I began working with this German felt in product design, I knew I had stumbled upon something special. We're excited to continue collaborations with architects and designers and push the envelope of what can be done with this unique material," added FilzFelt co-founder Kelly Smith.
Knoll is the recipient of the 2011 National Design Award for Corporate and Institutional Achievement from the Smithsonian's Copper-Hewitt, National Design Museum. Since 1938, Knoll has been recognized internationally for creating workplace and residential furnishings that inspire, evolve and endure. Today, our commitment to modern design, our understanding of the workplace and our dedication to sustainable design has yielded a unique portfolio of products that respond and adapt to changing needs. Knoll is aligned with the U.S. Green Building Council and the Canadian Green Building Council and can help companies achieve Leadership in Energy and Environmental Design LEED workplace certification. Knoll is the founding sponsor of the World Monuments Fund Modernism at Risk program.
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