Poltrona Frau Group majority stake acquired by US based Haworth
U.S. based sustainable structures and furnishings manufacturer Haworth has confirmed its intention to acquire the 58,6% shares package in Poltrona Frau Group from shareholders Charme Investments and Moschini at a price of 2,96 euros pershare and subsequently launch an IPO. According to a company statement the transaction is estimated to be completed by the end of April, following the eventual green light from antitrust authorities. Based in Holland, Michigan, Haworth had a turnover of US$1,4 billion in 2013 and is headed by CEO Franco Bianchi. Poltrona Frau Group includes brands such as Poltrona Frau, Cassina, Cappellini.