JASPER, Ind., October 19, 2018 (GLOBE NEWSWIRE) — Kimball, a subsidiary of Kimball International, Inc. (NASDAQ: KBAL) announced today that it has acquired the assets of David Edward Furniture Inc. headquartered in Baltimore Maryland. The closing will be completed on October 26th.
David Edward is a premier designer and manufacturer of contract furniture, sold in the healthcare, corporate, education and premium hospitality markets. David Edward sells primarily in the North American and Middle Eastern markets.
The David Edward name is synonymous with the highest quality upholstery in the furniture industry. Their products are generally specified by architects and designers, represented through a network of independent representatives, and sold through authorized furniture dealerships. The David Edward product portfolio consists of classic and contemporary designs, focused primarily in the seating, tables and ancillary furniture categories.
The acquisition includes two David Edward production facilities totaling 235,000 square feet. The company employs approximately 200 highly skilled craftspeople, who are dedicated to preserving a rich heritage built on delivering premium customized solutions for nearly fifty-five years.
“We were inspired by David Edward employees’ commitment to quality, their incredible tailoring skills, which integrates the most technical and architectural aspects of furniture design,” said Mike Wagner, President of Kimball. “We will further invest in David Edward, to continue operating independently, and build their brand by broadening their ancillary furniture portfolio with the goal of making David Edward the premier source for architects and designers. The synergy for Kimball is our ability to leverage David Edward’s excess production capacity, allowing us to expand the Kimball Health seating products, and tap their expertise by helping us raise our level of design detail for our broader seating portfolio.”
David Edward will continue to operate independently, selling through their existing network of independent reps and authorized dealers.
“Greg, Kevin and I, are confident we’ve found a buyer that we are strategically aligned with and who is committed to investing in this business for future growth,” stated David Pitts, President of David Edward. “Our family has enjoyed fifty-five great years of building the David Edward brand, and we are excited for the next chapter, which will be very beneficial for our employees and our customers. This partnership will allow investments necessary for David Edward to reach another level of competitiveness and growth.”
“David Edward and Kimball International have similar values, and it is on this foundation that we can improve each other, which will further build our success together. We are excited to welcome the David Edward employees to the Kimball International family,” added Bob Schneider, Chairman of the Board and CEO, Kimball International.
About Kimball Kimball, one of the most respected environmentally-conscious and forward focused furniture makers, blends state of the art technology with a rich heritage of craft, to better optimize workplace performance and enabling customers to craft a truly authentic brand experience. As a world-class design-driven company, Kimball applies its rich heritage as makers to create environments for tomorrow’s workplace. Kimball is a brand unit of Kimball International, Inc., (NASDAQ:KBAL), a publicly-traded company dedicated to its Guiding Principles and recognized as a highly-trusted company and an employer of choice. Learn how Kimball is changing workspaces by visiting www.kimball.com
