Flokk has entered into an agreement with Swiss swivel chairs manufacturer Giroflex to purchase all of the company’s shares and entities. Giroflex becomes the seventh brand to join Flokk’s growing flock of office seating manufacturers, and establishes Flokk as the largest European player in office chairs and work place seating.
“We are exceedingly proud to welcome Giroflex into the Flokk family. Our two companies share a similar philosophy on product quality and design, but we have not been strong competitors as we mainly operate in different markets,” says Lars I. Røiri, CEO of Flokk.
As the leading Swiss manufacturer of high-quality ergonomic office chairs, Giroflex is a premium brand with a strong position in German-speaking markets. In 2016, almost 90 per cent of Giroflex’ CHF 45.5 million (EUR 41.5 million) consolidated sales originated in Switzerland, Germany, Belgium, the Netherlands and Austria.
“The acquisition by Flokk opens new opportunities to Giroflex. As part of a larger group, we can expand our geographical scope and find new opportunities for growth. Flokk’s network and subsidiaries will provide ideal conditions to strengthen and develop the Giroflex brand internationally,” says Frank Forster, CEO of Giroflex.
The Giroflex name will continue as a separate brand in Flokk’s portfolio. Recently both Malmstolen, a Swedish producer of swivel chairs, and Offecct, a specialist in lounge furniture, became part of the group as well. Flokk aims to continue consolidating the industry by retaining a leading position in key markets.
“Giroflex matches this strategy to a tee and brings Flokk into pole position. It is perfect for our continued growth,” says Røiri.
The parties agreed not to disclose the purchase price or further details of the transaction.
For more information, please contact:
Lars I. Røiri, CEO, Flokk
E-mail: lars.roiri@flokk.com, mobile + 47 911 79 067