HNI Corporation and Kimball International have entered into a definitive agreement for HNI to acquire Kimball International.
Today HNI Corporation and Kimball International announced that we have entered into a definitive agreement for HNI to acquire Kimball International.
HNI is a leading global designer and provider of commercial furnishings with a diverse portfolio of established brands, including Allsteel, Gunlocke, HON, Design Public Group and HBF. The company, based in Muscatine, Iowa, also shares a similar culture and core values to what we hold dear at Kimball International. HNI has a rich history and culture, guided by similar core values focused on respect, integrity, superior customer service, and social good.
A combined HNI and Kimball International will have a broader, more comprehensive product offering, tailored go-to-market strategies, and enhanced manufacturing capabilities, and I believe this is an important next step in our company’s history. From our beginnings as a family-owned business founded in 1950, to becoming a single-class-of-stock public company in 2014, and now joining forces with a leader in the commercial furniture industry, we are ready for this next chapter.
As stated in our Guiding Principles, our commitment to the communities in which we operate is to be a profitable and growing organization. The combined company will continue to put its people first and support the communities in which they live and work, and both companies care deeply about individual and collective growth. We also share that we find meaning in the work we do to make a difference in the lives of our people, our customers, our communities, and the environment.
Professional growth and development is a core tenet at HNI and an area they invest in significantly. Following the completion of the transaction, HNI and Kimball International employees will benefit from expanded career opportunities as part of a larger and more diversified company.
Looking ahead, the transaction is expected to close by mid-calendar year 2023, subject to regulatory and other approvals. Until then, HNI and Kimball International will continue to operate as independent companies. Your day-to-day contacts at Kimball International will stay the same and there will be no changes in how we partner with you.
