From Home Furnishing Business
Ekornes to Acquire Furniture Supplier IMG
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.