Contract - Knoll Acquires HOLLY HUNT for $95 Million

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Knoll Acquires HOLLY HUNT for $95 Million

03 February, 2014

-By Holly O'Dell



Knoll, Inc. is expanding its presence in the residential market with the acquisition of luxury design brand HOLLY HUNT in a $95 million cash deal announced Feb. 3.

Holly Hunt will remain CEO of the eponymous company she founded in 1983—which provides furnishings, lighting, textiles, and leathers for designers—while serving as an adviser to Knoll on its high-design residential strategy. David Schutte, Knoll’s senior vice president and chief marketing officer, will join HOLLY HUNT as president.

“Like our co-founder Florence Knoll, Holly Hunt is one of the icons of our industry who consistently elevates the level of design in her chosen markets,” Knoll CEO Andrew Cogan said in a statement. “She is an arbiter of refined taste, and we have been longtime fans of her work and curatorial eye.”

"Knoll has a long and deep history with a terrific reputation for modern design and superb quality," Hunt said of the acquisition. "Knoll is an ideal partner to assure the continued growth of our brand."

HOLLY HUNT reported 2013 revenues of $94 million and double-digit operating margins. Following the acquisition, Knoll expects 40 percent of its revenues to come from outside the North American office market.




Knoll Acquires HOLLY HUNT for $95 Million

03 February, 2014


Knoll, Inc. is expanding its presence in the residential market with the acquisition of luxury design brand HOLLY HUNT in a $95 million cash deal announced Feb. 3.

Holly Hunt will remain CEO of the eponymous company she founded in 1983—which provides furnishings, lighting, textiles, and leathers for designers—while serving as an adviser to Knoll on its high-design residential strategy. David Schutte, Knoll’s senior vice president and chief marketing officer, will join HOLLY HUNT as president.

“Like our co-founder Florence Knoll, Holly Hunt is one of the icons of our industry who consistently elevates the level of design in her chosen markets,” Knoll CEO Andrew Cogan said in a statement. “She is an arbiter of refined taste, and we have been longtime fans of her work and curatorial eye.”

"Knoll has a long and deep history with a terrific reputation for modern design and superb quality," Hunt said of the acquisition. "Knoll is an ideal partner to assure the continued growth of our brand."

HOLLY HUNT reported 2013 revenues of $94 million and double-digit operating margins. Following the acquisition, Knoll expects 40 percent of its revenues to come from outside the North American office market.

 


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