Daily News
From Home Furnishing Business
Ekornes to Acquire Furniture Supplier IMG
December 16,
2013 by in Acquisition, Industry, Leather Upholstery, Product, Recliner 
Upholstered furniture supplier Ekornes has agreed to acquire competitor IMG, a fellow Norwegian furniture producer.
The companies have been competitors in the marketplace for some time.
The two companies are working on a final agreement, and the due diligence process is currently in the works. A final agreement is expected to be reached by May 1.
IMG will continue as a separate business of Ekornes Group, with its own management team, separate products and brands.
Financial details of the acquisition have not be disclosed.