Kimball to Acquire David Edward

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Kimball is a subsidiary of Kimball International. Kimball is a subsidiary of Kimball International.
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A subsidiary of Jasper-based Kimball International Inc. (Nasdaq: KBAL) has announced plans to acquire Maryland-based contract furniture manufacturer David Edward. Financial terms are not being disclosed, however Kimball expects the deal to close within the next 30 days.

David Edward designs and manufactures furniture for the healthcare, corporate, education, and premium hospitality markets in North America and the Middle East. Kimball says, as a result of the acquisition, it will lease the two existing David Edward production facilities in Baltimore and Red Lion Pennsylvania, which total 235,000 square feet.

Kimball says David Edward, which employs 170, will continue to operate independently and sell its products through its existing network on independent representatives and authorized dealers.

"We were inspired by David Edward employees’ commitment to quality and their incredible tailoring skills, which integrates the most technical and architectural aspects of furniture design," said Mike Wagner, president of Kimball. "We will further invest in David Edward and build their brand by broadening their ancillary furniture portfolio with the goal of making David Edward the premier source of upholstery products for architects and designers. The synergy for Kimball lies in our ability to leverage David Edward’s excess production capacity to expand not just Kimball Health seating, but also our broader seating portfolio while tapping into their expertise to help us raise our level of design detail."

David Pitts, president of David Edward, says the acquisition will allow his company to reach higher levels of competitiveness and growth.

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