HERMAN MILLER, INC. (NASDAQ:MLHR) Files An 8-K Entry into a Material Definitive AgreementItem 1.01Entry into a Material Definitive Agreement
On June 7, 2018, Herman Miller Holdings Limited, a wholly owned subsidiary of Herman Miller, Inc., (the "Company") entered into an agreement and acquired 33% of the outstanding equity of Nine United Denmark A/S, d/b/a HAY ("HAY”), a Copenhagen, Denmark-based, design leader in furniture and ancillary furnishings for residential and contract markets in Europe and Asia. The Company acquired its 33% ownership interest in HAY for approximately $66 million in cash. The Company also acquired the rights to the HAY brand in North America under a long-term license agreement for approximately $5 million in cash. The Company closed the transaction on June 7, 2018.
Item 7.01Regulation FD Disclosure
MILLER HERMAN INC ExhibitEX-99.1 2 ex991hayspressrelease060718.htm EXHIBIT 99.1 hayspressrelease060718 Herman Miller Acquires an Interest in HAY • Extends Herman Miller’s global reach and expands offering of furnishings and accessories • HAY’s goods available in the coming year through Herman Miller’s Design Within Reach channels • Expected to be accretive to earnings per share in fiscal 2019 June 7,…To view the full exhibit click here
About HERMAN MILLER, INC. (NASDAQ:MLHR)
Herman Miller, Inc. is engaged in the research, design, manufacture, sale and distribution of office furniture systems, seating products, home furnishings and related services, among others. The Company’s segments include North American Furniture Solutions, which includes the design, manufacture and sale of furniture products for work-related settings, including office, education and healthcare environments, across the United States and Canada; EMEA, Latin America, and Asia Pacific (ELA) Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products, primarily for work-related settings, in the Europe, Middle East and Africa (EMEA), Latin America and Asia-Pacific geographic regions, among others; Specialty segment, which includes the design, manufacture and sale of furniture products and textiles, and Consumer segment, which includes the sale of modern design furnishings and accessories to third-party retail distributors.
