Flokk, the leading European manufacturer of office seating and furniture, has acquired US-based Via Seating from leading North American furniture manufacturer Groupe Lacasse. This transaction further solidifies Flokk's position in the US market, which now constitutes 40% of total sales for the Group, aligning with its long-term acquisition strategy.
From left to right: Chas Hepler, CEO, Nora Fenlon, chief commercial officer, (both Via Seating); Henning Karlsrud, CEO (Flokk), Sylvain Garneau, CEO (Groupe Lacasse), and Jonas Allers Wismer, SVP M&A, business development and strategy (Flokk).
Through organic growth and multiple acquisitions, Flokk has transformed from a Scandinavian player to the European market leader in office seating and furniture. With a strong foothold in the US market, Flokk now reports annual revenues of approximately NOK 5 billion (USD ~450 million).
'Acquisitions are a key element of our strategy, and over the years, we have proved that we provide a nurturing home for some of the most innovative brands in the fragmented office furniture industry,' says Henning Karlsrud, Group CEO of Flokk. 'Via Seating's strength within the executive and task chair segment, combined with key characteristics such as design, quality, ergonomics and sustainability, fits perfectly with our group strategy. Building on the success of our acquisitions of 9to5 Seating and Stylex in the US, we are thrilled to add Via Seating to our brand portfolio. Alongside our HÅG brand, this makes for a strong line up in the US market.'
Founded in 1987 by Danish-born Thomas Sorensen, Via Seating has established itself as an innovative seating specialist. The company employs approximately 150 staff members and with the acquisition Flokk will generate annual sales of about NOK 2 billion (USD ~175 million) in the US market. Via Seating's headquarters and manufacturing facility are located in Reno, Nevada, and it will continue to operate from its facilities here, led by CEO Chas Hepler.
'Via Seating brings a renowned brand, innovative products, a solid market position and a strong company culture to the Flokk family. We see great opportunities for the Via Seating brand in this new setting, as we explore avenues to accelerate growth and leverage synergies in areas such as supply chain and engineering,' says Chas Hepler, CEO of Via Seating.
With the acquisition of Via Seating, Flokk has added nine new brands to strengthen its portfolio over the past ten years.
'Our two most recent acquisitions have taken place in the United States, and our revenue in the US will now constitute almost 40 % of the total group. This is a deliberate strategy. The US market is developing strongly, bolstered by the back-to-the-office trend. In the longer term, our expanding presence in the US enhances our robustness across business cycles as various geographical markets often develop differently,' says Mr Karlsrud.
More information:
Flokk
www.flokk.com