Kimball Acquires new Company

Jasper (NNDC):

Kimball, a subsidiary of Kimball International, Inc. (NASDAQ: KBAL) announced today that it has signed an agreement to acquire virtually all the assets of David Edward headquartered in Baltimore, Maryland.  The closing is expected to be completed within the next 30 days. David Edward is a premier designer and manufacturer of contract furniture, sold in the healthcare, corporate, education and premium hospitality markets.

David Edward sells primarily in the North American and Middle Eastern markets. The name is synonymous with the highest quality upholstery products in the furniture industry. Their products are generally specified by architects and designers, represented through a network of independent representatives, and sold through authorized furniture dealerships.

Their product lines consist of classic and contemporary designs, focused primarily in the seating, tables and ancillary furniture categories. In conjunction with the asset acquisition, Kimball will lease the two existing David Edward production facilities in Baltimore and Red Lion, Pennsylvania totaling 235,000 square feet.

The company employs approximately 170 highly skilled craftspeople, who are dedicated to preserving a rich heritage built on delivering premium customized solutions for nearly fifty-five years.

The goal for Kimball and this acquisition lies in the ability to leverage David Edward’s excess production capacity to expand not just Kimball Health seating, but also the broader seating portfolio while tapping into their expertise to help raise the level of design detail.

David Edward will continue to operate independently, selling through their existing network of independent reps and authorized dealers.



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