Hunter Douglas to Acquire Levolor from Newell Rubbermaid
Rotterdam, March 17, 2016 – Hunter Douglas, the world market leader in window coverings (Luxaflex®), and a major manufacturer of architectural products, has agreed to acquire the Levolor and Kirsch window covering business and brands, with 2015 sales of USD 302 million, from Newell Rubbermaid Inc., for a purchase price of USD 270 million. The acquired business employs around 2,600 people.
Levolor, founded in 1935, is a leading supplier of window covering products to the United States and Canadian home center channels. Kirsch is a long established window covering and drapery hardware brand.
The Levolor® brand is one of the oldest and most recognized in the window covering industry in North America. Levolor is based in Atlanta, Georgia and has manufacturing facilities in Ogden, Utah; Agua Prieta, Mexico; Shenzhen, China as well as a customer service center in High Point, North Carolina and several logistic facilities and sales offices in the United States and Canada.
The completion is subject to regulatory approval.
The acquisition of Levolor will be complementary to Hunter Douglas’ existing window covering business in the United States and Canada. Hunter Douglas presently has only a minor presence in the large home center channels in North America.
Hunter Douglas has its Head Office in Rotterdam, the Netherlands, and a Management Office in Lucerne, Switzerland. The Hunter Douglas Group is comprised of 126 companies 50 manufacturing and 76 assembly operations in more than 100 countries. Hunter Douglas employs about 16,000 people and had sales in 2015 of USD 2.552 billion.
The common shares of Hunter Douglas N.V. are traded on Amsterdam’s Euronext and the Deutsche Börse.
SOURCE: Hunter Douglas