Bech-Bruun assists in partial sale of HAY
Bech-Bruun has assisted Troels Holch Povlsen in a partial sale of shares in Nine United Denmark to the US-based Herman Miller.
On 7 June 2018, Troels Holch Povlsen and Rolf Hay, owners of Nine United Denmark which operates the furniture and interior furnishing business HAY, sold a total of 33% of their shares in Nine United Denmark to Herman Miller.
HAY was founded in 2002 and its products are currently sold in more than 50 countries via flagship stores in Europe and Asia. The business currently employs more than 180 people and expects revenues of approx. DKK 1bn in 2018.
Herman Miller is a US-listed company manufacturing and selling furniture worldwide. The company generates annual revenues of more than DKK 14bn and has more than 8,000 employees. The ambition of Herman Miller is for HAY to expand in the US market.
Read more in this press release: https://www.hermanmiller.com/press/press-releases/herman-miller-adds-hay-to-family-of-brands. And also borsen.dk: Nyt stort designudsalg - Holch Povlsen sælger ud af guldæg (in Danish).