After Chinese KUKA to acquire German Rolf Benz for €42 million in Mar, 2 months later, China another influential home furnishings group—Qumei has made $630m cash bid in one of the largest Norwegian furniture manufacturer—Ekornes.

$630 millions cash bid may be the biggest case of acquisition in the furniture industry.

“After the first approach from Qumei more than a year ago, the board and management have spent significant time and efforts to assess this strategic opportunity,” Ekornes said.

“We have been impressed by Qumei’s ability to develop successful products and marketing concepts and we see great potential for Ekornes to continue its success under this new ownership,” it added.

In terms of Qumei, via this acquisition, Qumei will enrich its furniture brands, perfect the brand layout, accelerate the process of brand internationalization . Considering that Ekornes ASA's best-known brand ‘Stressless’ targets the middle and high end furniture marke, this acquisition will supplement Qumei’s existing product line. And at the same time, Qumei also has a middle-end mattress brand ‘Svane’. 

About Qumei:

Established in 1993, Qumei Home Furnishings Groups Co.,Ltd. is a leading large-scale and standardized furniture group in China engaged in the design, manufacture and sale of medium and high grade home furnishing and matching home accessories. The Company provides the customers with integrated home solutions. The Company's main product is wooden furniture, which consist of solid wood furniture, man-made board furniture and integrated furniture. Addition to the main furniture for the living room, study, bedroom, diner room, children’s room and customized purpose, the Company also provides mattress, curtains and other home accessories.

Qumei Products:

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(Source: Jiagle.com)