Steelcase Inc., the iconic office furniture company founded 113 years ago in Grand Rapids by Peter Martin Wege, will sell to long-time rival HNI Inc. in a $2.2 billion deal. The two corporations this morning announced that they have signed a definitive agreement for a stock-and-cash deal that could close by the end of 2025, pending regulatory and shareholder approvals …
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GRAND RAPIDS, MI — For many in Michigan’s Furniture City, HNI was likely an unfamiliar name. That changed, however, Monday morning, Aug. 4, when the Iowa-based company announced the $2.2 billion acquisition of Steelcase, one of West Michigan’s largest office furniture makers. While 32 years younger than its former rival, HNI gradually rose from humble beginnings to become one of …
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GRAND RAPIDS, MI — Grand Rapids’ biggest office furniture manufacturer is being acquired by another company in the same market. HNI Corporation and Steelcase Inc. on Monday, Aug. 4, announced that they have entered into a definitive agreement for HNI to acquire Steelcase in a cash and stock transaction, with a total consideration of approximately $2.2 billion to Steelcase common …
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