A leading manufacturer in the contract furniture sector has been fully acquired by an international group in a move aimed at accelerating global growth.
The British-based Boss Design has become a wholly owned subsidiary of Okamura Corporation, following the acquisition of 100% of its issued shares. The transaction supports Okamura's medium-term strategy to expand its overseas operations through partnerships and acquisitions rooted in local markets.
Okamura stated the move would strengthen its product offering beyond its core task seating, by adding Boss Design's expertise in loose furniture such as soft seating and pods. It also plans to leverage Boss Design's existing market presence in the UK, Europe, and the US.
'This acquisition,' the group said, 'aims to enhance its product line up and expand product sales, explore new markets, and drive further growth' in its international business. Okamura also highlighted the strategic fit, combining its presence in Asia and Japan with Boss Design's established reach in Western markets.
Boss Design commented on the acquisition by stating that the partnership marks an "evolution", not a change, and expressed optimism about combining its design expertise with Okamura's "strength in precision-engineered workspace solutions".
The acquisition reflects both companies' commitment to innovation and expansion in the global furniture market.
Source: www.bigfurnituregroup.com