{"id":39592,"date":"2019-10-31T13:38:45","date_gmt":"2019-10-31T12:38:45","guid":{"rendered":"http:\/\/modern-wilderness.flywheelsites.com\/?p=39592"},"modified":"2019-10-31T13:38:49","modified_gmt":"2019-10-31T12:38:49","slug":"herman-miller-acquires-remaining-shares-of-naughtone","status":"publish","type":"post","link":"https:\/\/officerepublic.news\/en\/2019\/10\/herman-miller-acquires-remaining-shares-of-naughtone\/","title":{"rendered":"Herman Miller Acquires Remaining Shares of naughtone"},"content":{"rendered":"\n<p><strong>Herman Miller, Inc. , the global designer and furniture manufacturer, announced today it has acquired the remaining shares of contemporary British furniture designer naughtone for approximately $46.1 million (\u20ac 41.3 million, OR). Solidifying its ownership of naughtone directly aligns with Herman Miller\u2019s strategic priority to accelerate profitable growth.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Average sales growth of 35% in the last three years<\/h3>\n\n\n\n<p>Herman Miller partnered with naughtone in 2016 by acquiring a 50 percent stake in the company to help enhance its global offering in ancillary and collaborative furnishings, an area in which Herman Miller saw significant growth potential. As a result of this partnership, naughtone has generated average annual sales growth of 35 percent over the past three years. This partnership has helped Herman Miller expand its product design and development capabilities, fueling 11 new product launches and leading to numerous design and innovation awards.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" loading=\"lazy\" width=\"740\" height=\"640\" src=\"https:\/\/officerepublic.news\/wp-content\/uploads\/2019\/10\/Naughtone-Fox.jpg\" alt=\"\" class=\"wp-image-39593\" srcset=\"https:\/\/officerepublic.news\/wp-content\/uploads\/2019\/10\/Naughtone-Fox.jpg 740w, https:\/\/officerepublic.news\/wp-content\/uploads\/2019\/10\/Naughtone-Fox-20x17.jpg 20w, https:\/\/officerepublic.news\/wp-content\/uploads\/2019\/10\/Naughtone-Fox-385x333.jpg 385w\" sizes=\"(max-width: 740px) 100vw, 740px\" \/><figcaption><a href=\"https:\/\/www.naughtone.com\/casestudies\/fox-networks-group\/\">Naughtone &#8211; Fox Networks Group<\/a><\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Vital Strategic Partner<\/h3>\n\n\n\n<p>&#8220;<em>naughtone has been a vital strategic partner in growing Herman Miller Group\u2019s ancillary product offering,<\/em>&#8221; said Andi Owen, Herman Miller President and CEO. &#8220;<em>I\u2019m so proud of our shared values, as well the modern aesthetic and contemporary British design they bring to our family of brands<\/em>.&#8221;<\/p>\n\n\n\n<p>Based in Harrogate, North Yorkshire, naughtone was founded in 2005 and has grown rapidly in the collaborative furniture market under the leadership of Matt Welsh, Kieron Bakewell and Mark Hammond. Known for contemporary design and high-quality manufacturing, particularly in upholstery, naughtone\u2019s innovative products such as the Always chair range, the Polly chair, and the Viv chair are used by clients around the world, including some of the biggest brands in commerce and culture.<\/p>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-background has-vivid-cyan-blue-background-color\" href=\"https:\/\/officerepublic.news\/en\/2019\/10\/herman-miller-agrees-to-acquire-majority-interest-in-hay-a-s\/\">> Herman Miller agrees acquisition of majority interest in HAY\u00a0<\/a><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">&#8220;We are looking forward to working together&#8221;<\/h3>\n\n\n\n<p>&#8220;<em>Our partnership with Herman Miller has helped us significantly grow our global market presence, especially in North America,<\/em>&#8221; said naughtone Vice President of Sales Matt Welsh. &#8220;<em>This expanded relationship sets us up for continued success, and we look forward to working together in this new capacity to achieve great results.<\/em>&#8220;<\/p>\n\n\n\n<p>naughtone was recently recognized as one of&nbsp;<em>the Telegraph\u2019s<\/em>&nbsp;Fastest Growing British Exports, and its products have been nominated for and received numerous design awards over the past several years, including the Queen&#8217;s Award for Enterprise.<\/p>\n\n\n\n<p>\u201c<em>Herman Miller has a remarkable legacy of design and innovation,&#8221; said Vice President of Creative Kieron Bakewell. &#8220;Being part of Herman Miller Group is a huge honor for naughtone and gives us even greater ambition and confidence in our own product plans.\u201d<\/em><\/p>\n\n\n\n<p>Herman Miller expects to consolidate naughtone\u2019s operating results following the closing date of this transaction. Net sales for naughtone\u2019s most recent fiscal year that ended in May 2019 totaled approximately $37 million. Excluding potential one-time purchase accounting adjustments, this transaction is expected to have an incremental $0.01 to $0.03 accretive impact on earnings per share in the remaining seven months of fiscal 2020.<\/p>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-background has-vivid-cyan-blue-background-color\" href=\"https:\/\/www.hermanmiller.com\/content\/dam\/hermanmiller\/documents\/news_events_media\/press_release_20191029.pdf\">> Transaction Highlights [PDF]<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Herman Miller, Inc. , the global designer and furniture manufacturer, announced today it has acquired the remaining shares of contemporary British furniture designer naughtone for approximately $46.1 million (\u20ac 41.3 million, OR). Solidifying its ownership of naughtone directly aligns with Herman Miller\u2019s strategic priority to accelerate profitable growth. Average sales growth of 35% in the&hellip;<\/p>\n","protected":false},"author":6,"featured_media":39596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[3091,5312],"tags":[],"jetpack_publicize_connections":[],"acf":{"app_afbeelding":false,"app_titel":"Herman Miller acquires remaining shares of naughtone","app_article":"<p><!-- wp:paragraph --><\/p>\n<p><strong>Herman Miller, Inc. , the global designer and furniture manufacturer, announced today it has acquired the remaining shares of contemporary British furniture designer naughtone for approximately $46.1 million (\u20ac 41.3 million, OR). Solidifying its ownership of naughtone directly aligns with Herman Miller\u2019s strategic priority to accelerate profitable growth.<\/strong><\/p>\n<p><!-- \/wp:paragraph --> <!-- wp:heading {\"level\":3} --><\/p>\n<h3>Average sales growth of 35% in the last three years<\/h3>\n<p><!-- \/wp:heading --> <!-- wp:paragraph --><\/p>\n<p>Herman Miller partnered with naughtone in 2016 by acquiring a 50 percent stake in the company to help enhance its global offering in ancillary and collaborative furnishings, an area in which Herman Miller saw significant growth potential. As a result of this partnership, naughtone has generated average annual sales growth of 35 percent over the past three years. This partnership has helped Herman Miller expand its product design and development capabilities, fueling 11 new product launches and leading to numerous design and innovation awards.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n","app_link_title":"","app_link_url":"","app_display":"Ja","bedrijfsnaam":"","related_profiles":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.5.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Herman Miller Acquires Remaining Shares of naughtone | OfficeRepublic<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/officerepublic.news\/en\/2019\/10\/herman-miller-acquires-remaining-shares-of-naughtone\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Herman Miller Acquires Remaining Shares of naughtone | OfficeRepublic\" \/>\n<meta property=\"og:description\" content=\"Herman Miller, Inc. , the global designer and furniture manufacturer, announced today it has acquired the remaining shares of contemporary British furniture designer naughtone for approximately $46.1 million (\u20ac 41.3 million, OR). Solidifying its ownership of naughtone directly aligns with Herman Miller\u2019s strategic priority to accelerate profitable growth. Average sales growth of 35% in the&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/officerepublic.news\/en\/2019\/10\/herman-miller-acquires-remaining-shares-of-naughtone\/\" \/>\n<meta property=\"og:site_name\" content=\"OfficeRepublic\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-31T12:38:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-10-31T12:38:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/officerepublic.news\/wp-content\/uploads\/2019\/10\/Naughtone-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"842\" \/>\n\t<meta property=\"og:image:height\" content=\"595\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editorial Office\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/or__en\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta 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