GRAND RAPIDS, Mich. — West Michigan-based furniture maker Steelcase is now set to be acquired by rival HNI, which is based out of Iowa.
In a release, the company shared its expected to be a $2.2 billion deal.
They expect it will be complete by the end of 2025.
Steelcase will maintain headquarters in Grand Rapids. HNI will also maintain the Steelcase brand.
“Joining with HNI is a bold step that marks the next era for Steelcase, our customers, dealers, and employees,” said Sara Armbruster, President and Chief Executive officer of Steelcase in a release. “Together, we will be positioned to redefine what’s possible in the world of work, workers, and workplaces. Like Steelcase, HNI is an organization that leads with purpose, shares similar values, and puts the customer at the center of everything they do. I’m excited to see this combination shape our industry.”
