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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.

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