Herman Miller Agrees to Acquire Design Within Reach
Herman Miller has agreed to acquire Design Within Reach (DWR), a retailer of authored modern design that had revenues of approximately $218 million in 2013. Scheduled to close July 28, 2014, the deal will result in Herman Miller's 84 percent ownership, estimated to equal $154 million in cash. Today, DWR is the largest and fastest-growing retailer of Zeeland, Michigan-based Herman Miller's furniture. Brian Walker, CEO, Herman Miller, said in a statement released by the company, "The addition of DWR is a transformational step forward in realizing our strategy for diversified growth and establishing Herman Miller as a premier lifestyle brand."