Infore Group Purchases Controlling Interest in Kuka Home
Furniture World News Desk on
In a significant development within the furniture industry, Kuka Home, a leading upholstery manufacturer, has officially announced the purchase of a controlling interest in its parent company, Kuka Group Co. Ltd., by Infore Group. This strategic move underlines Kuka Home's dedication to sustained growth and its position in the global market.
In a recent transaction, the Gu family, who were the majority shareholders of Kuka Group, sold a 29.42% interest in the company, valued at 10.3 billion RMB, to Infore Group. Despite this sale, they will continue to hold an 18.02% share of the company. Following the transaction. The rest of the shares are now in the hands of a broad range of investors, ensuring a diverse shareholder base.
Infore Group, led by He Jianfeng, son of Midea Group founder He Xiangjian, is known for its investment prowess. The acquisition strengthens ties between Kuka Home and Infore Group, with a history of shared leadership connections. Two of Kuka Home's senior executives are former Midea Group employees.
Matt Harrison, President of Kuka Home North America, expressed optimism about the future following the acquisition. "We are excited for the next chapter of Kuka Home with Infore Group as our new controlling shareholder. We look forward to working together to further fortify our position as a global furniture industry leader and solidify growth opportunities in multiple categories," said Harrison. He reassured customers of Kuka Home's continued dedication to quality and strong partnerships.
Kuka Home is poised for aggressive expansion in the North American market, emphasizing the enhancement of its product range and services. This focus is part of the company's strategy to meet the evolving needs of its customers and partners.
About Kuka Home
Kuka Home stands as the world's largest full-line upholstered manufacturer, recognized for its innovative and stylish furniture designs. The company's commitment to quality and customer satisfaction has positioned it as a global leader in the furniture industry.