ZEELAND, Mich., July 20, 2021 / PRNewswire / – Herman Miller (NASDAQ: MLHR) today announced that after completing the acquisition of Knoll, Inc. (“Knoll”), on July 19, 2021, the company merged going forward as MillerKnoll. Herman Miller and Knoll, along with their historic brands, will continue to be separate brands as part of MillerKnoll. In addition, MillerKnoll will have a new operating model that will ensure strong brand ownership, transforming the industry and redefining modern design.

“We are thrilled to introduce MillerKnoll, a collective of dynamic brands coming together to design the world we live in,” said Andi Owen, President and CEO of MillerKnoll. “Our industry, and the world in general, is changing rapidly. Design is how we imagine and shape a better future. By coming together, we will define and lead this transformation, as we have other transformations in our history.”

MillerKnoll: the preeminent leader in modern design

Herman Miller and Knoll have a deep heritage as industry pioneers and a shared commitment to design, innovation, operational excellence, sustainability and social good. With the transaction now closed, MillerKnoll:

  • Catalyze home and office transformation with a united portfolio of complementary brands.
  • Support and develop existing contract and retail channels, as well as explore new business ideas and innovations, to ensure they meet the highest level of excellence in manufacturing, sales and customer service and user experience.
  • Include global functional teams that serve the entire business, including manufacturing, digital, technology, marketing, strategy, finance, human resources, and legal.
  • Drive growth and profitability with a large-scale US and international footprint, maintaining strong brand ownership designed to preserve and nurture the essence of the brands within the combined company’s portfolio, which includes the Herman Miller and Knoll brands .

MillerKnoll now benefits from an increased reach and ability to better serve customers in the contract furniture industry, the residential segment and the retail public. Additionally, MillerKnoll is well positioned to strengthen engagement with architects and interior designers, who support decision making for contract and residential clients.

Owen continued, “We are a group of people and brands guided by a shared vision, common values ​​and an unwavering commitment to design. As MillerKnoll, we will push and inspire each other to innovate and design the future for all places where life happens. “

As previously announced, MillerKnoll will be led by Herman Miller President and CEO Andi Owen. In addition to Owen, the combined company will be led by a world-class management team comprised of executives from Herman Miller and Knoll. Additional information on the management team is available on the company website. Writing.

Herman Miller intends to submit a proposal to its shareholders at its next annual meeting to obtain approval of the formal name change from Herman Miller to MillerKnoll. Currently, Herman Miller’s common stock will continue to trade on the Nasdaq under the ticker symbol “MLHR”.

About MillerKnoll

MillerKnoll is a vibrant brand collective and one of the world’s largest and most influential modern design companies. The company is the result of a deep heritage of design, innovation and social well-being. MillerKnoll was created in 2021 from the combination of Herman Miller and Knoll, and includes the brands Colebrook Bosson Saunders, DatesWeiser, DWR, Edelman Leather, Fully, Geiger, HAY, Holly Hunt, KnollExtra, Knoll Office, KnollStudio, KnollTextiles, Maars Living Walls, Maharam, Muuto, naughtone and Spinneybeck | FilzFelt. Guided by a shared vision, common values ​​and an unwavering commitment to design, MillerKnoll innovates and designs the future of all places where life takes place while contributing to a more equitable and sustainable future for all.

Forward-looking statements

This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements relate to future events and expected results of operations, business strategies, expected benefits of the transaction, the expected impact of the transaction on the combined company’s business and future financial and operating results, the expected amount and timing of synergies resulting from the transaction, and other aspects of our operations or of our operating results. These forward-looking statements can generally be identified by expressions such as “will”, “expects”, “anticipates”, “anticipates”, “forecasts”, “estimates” or other words or expressions of similar importance. It is not certain whether any of the events anticipated by the forward-looking statements will occur or will occur, or if any of them occur, what impact they will have on the results of operations and the financial condition of the company. ‘Herman Miller or the stock price of Herman Miller. . These forward-looking statements involve certain risks and uncertainties, many of which are beyond Herman Miller’s control, that could cause actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to: the impact public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and all related company or government policies and actions to protect the health and safety of individuals or government policies or actions to keep national or global economies and markets functioning; the risk that the expected benefits of the merger with Knoll will not materialize when expected or not at all; risks associated with additional debt incurred in connection with the merger; the ability of Herman Miller to comply with its covenants and obligations; the risk that the expected benefits of the merger will be more costly to realize than expected; the effect of the merger announcement on the ability of Herman Miller or Knoll to retain and hire key personnel and to maintain relationships with customers, suppliers and others with whom Herman Miller or Knoll deals business, or the results of operations and businesses of Herman Miller or Knoll generally; Herman Miller’s ability to successfully integrate Knoll’s operations; the ability of Herman Miller to implement its plans, forecasts and other expectations regarding Herman Miller’s business following the completion of the transaction and to achieve expected synergies; business disruption following the merger; general economic conditions; the availability and price of raw materials; the financial strength of our dealers and the financial strength of our customers; the success of newly introduced products; the pace and level of public procurement; and the outcome of pending litigation or government audits or investigations. For more information on other factors that could cause actual results to differ materially from those described in forward-looking statements, please refer to Herman Miller’s periodic reports and other documents filed with the SEC, including factors risks identified in Herman Miller’s most recent quarterly reports. on Form 10-Q and annual reports on Form 10-K. The forward-looking statements included in this communication are made only as of the date hereof. Herman Miller assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances, except as required by law.

View original content to download multimedia: https://www.prnewswire.com/news-releases/herman-miller-and-knoll-announce-new-name-for-combined-company-millerknoll-301337578.html

SOURCE MillerKnoll

Copyright © 2021 PR Newswire Association LLC. All rights reserved.

Source link

Leave a Reply

Your email address will not be published.