2012-02-07 14:20:06 -
EAST GREENVILLE, Pa., February 7 - Knoll, Inc. (NYSE: KNL) today announced that
it has acquired FilzFelt, purveyors of German-milled 100% wool design felt as
well as felt floor coverings and architectural applications for the residential,
hospitality and contract office furniture markets.
Andrew B. Cogan, Knoll CEO, said, "The acquisition of FilzFelt reflects our
strategy of building sales in our high design, high margin specialty businesses
which appeal to both commercial buyers and consumers worldwide."
"FilzFelt has built a spirited reputation in the design community for its range
of felt products and custom applications as well as its founders' commitment to
sustainable design. We look forward to working with the FilzFelt team to expand
the FilzFelt brand and market presence," he added.
FilzFelt distributes German-milled 100% wool design felt in 58
colors and five
thicknesses and offers a wide range of felt products and full custom
capabilities. A biodegradable and renewable material, wool felt is naturally
moisture resistant, self-extinguishing, non-directional, available in lightfast
and water resistant colors, and provides thermal and acoustic insulation.
Kelly Smith and Traci Roloff, the Company's founders with over 20 years combined
architecture and product design experience, will continue with executive roles
at FilzFelt. FilzFelt maintains a marketing and design studio in Boston, Ma.
"Throughout our careers we've admired Knoll for its design legacy and dedication
to progressive and relevant products. We look forward to expanding the FilzFelt
product portfolio and reaching a far broader audience," said FilzFelt co-founder
Traci Roloff.
"When I began working with this German felt in product design, I knew I had
stumbled upon something special. We're excited to continue collaborations with
architects and designers and push the envelope of what can be done with this
unique material," added FilzFelt co-founder Kelly Smith.
About Knoll
Knoll is the recipient of the 2011 National Design Award for Corporate and
Institutional Achievement from the Smithsonian's Copper-Hewitt, National Design
Museum. Since 1938, Knoll has been recognized internationally for creating
workplace and residential furnishings that inspire, evolve and endure. Today,
our commitment to modern design, our understanding of the workplace and our
dedication to sustainable design has yielded a unique portfolio of products that
respond and adapt to changing needs. Knoll is aligned with the U.S. Green
Building Council and the Canadian Green Building Council and can help companies
achieve Leadership in Energy and Environmental Design LEED workplace
certification. Knoll is the founding sponsor of the World Monuments Fund
Modernism at Risk program.
Investors:
Barry L. McCabe
Executive Vice President and Chief Financial Officer
215 679-1301
bmccabe@knoll.com
Media:
David E. Bright
Senior Vice President, Communications
212 343-4135
dbright@knoll.com
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Source: Knoll, Inc. via Thomson Reuters ONE
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