Flokk acquires Polish market leader Profim
The agreement to acquire Profim, the leading manufacturer of office chairs for the Eastern and Central European markets, will bring Flokk’s turnover close to NOK 3 billion.
Oslo, Norway 28.02.2018
Flokk, a leading European manufacturer of office seating products, has signed an agreement to acquire Profim, the largest Polish manufacturer of office chairs. When finalised, the acquisition will bring Flokk’s turnover close to NOK 3 billion, reinforcing the group’s market leading position in several European countries.
“Flokk’s ambition is to become one of the leading European players within the office furniture industry, and with Profim as part of the flock, our position will strengthen in key markets,” says Lars I. Røiri, CEO of Flokk.
The transaction furthers Flokk’s transformation from a Scandinavian player to a European market leader within office seating, a strategy Flokk pursues through a combination of organic growth and acquisitions.
Profim has enjoyed significant growth for several years with increasing market shares in its main markets, Germany and Poland. The company employs 1,700 workers in its Turek, Poland production site, and brings Flokk a global sales network of 1,100 dealers in 30 countries. Flokk’s purchase of Profim will be settled by shares of Flokk.
“Flokk has a solid portfolio with many strong brand names. It is a family we look forward to becoming a part of. Flokk’s growth over the past few years also confirms that we share a proactive approach towards continuous development and an aspiration to drive innovation and attractive design”, says Piotr Chelminski, CEO of Profim.
“Profim and Flokk have a complementary product portfolio which will make our combined offering more attractive, especially towards larger projects. We will also be a competitive partner for office furniture distributors,” adds Røiri.
For more information, please contact:
Lars I. Røiri, CEO, Flokk
E-mail: firstname.lastname@example.org, mobile + 47 911 79 067
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