Kimball Hospitality to acquire D'style furnishingsFriday, February 9, 2018
Jasper, IN –
Kimball Hospitality announced plans to acquire furnishings supplier D’style Inc. and its subsidiary Allan Copley Designs for $20 million.
News of the acquisition was announced Nov. 1. Based in Jasper, Indiana, Kimball Hospitality is a subsidiary of Kimball International, Inc. (NASDAQ:KBAL). The closing is expected to be complete within the next 30 days, subject to certain post-closing working capital adjustments.
Based in Chula Vista, California, D'style posted annual revenues of approximately $20 million in 2016. The company supplies metal public space and guest room furnishings, ranging from tables, vanities, grilles, lighting and other accent pieces to the hospitality industry. Allan Copley Designs provides wood, metal and glass casegood and seating products, sold through the hospitality market and residential distribution channels.
Kimball said the acquisition will expand the company's reach into hospitality public space areas and the residential market, enabling it to also "take advantage of the trend where hospitality, residential and commercial designs are merging."
“We are thrilled to bring D’style and Allan Copley Designs into our portfolio,” said Kourtney Smith, president of Kimball Hospitality. “Strategically, this positions us to be a significant player in the public space area, expanding our reach beyond guestrooms. D’style’s custom metal capability is a huge asset with many designs incorporating mixed materials. Designers have trusted D’style with their custom creations for decades.”
The acquisition also includes D'style group's Diseños de Estilo in Tijuana, Mexico, thereby expanding Kimball Hospitality’s North American manufacturing footprint and adding a distribution channel to the Mexico and Latin American hospitality markets, the company said.
D’style will continue to be led by Roberto Besquin, former co-owner and founder of the company, who will serve as executive director of D'style. The operations will continue to be led by former co-owner, Jacob Shor, in the role of senior director of Operations.
“Jacob and I are confident we’ve found a buyer that we are strategically aligned with and who is committed to investing in the business for future growth,” Besquin said. “We have had great success over the last 28 years and are excited to partner with someone who can help take our company to new heights.”
“D’style and Kimball International have similar values, principles and company culture which will enable us to build success together. We are excited to welcome the D’style employees to the Kimball International family,” added Bob Schneider, chairman of the board and CEO, Kimball International.
Other brands in the Kimball International family include Kimball and National office furniture.Read all News