KI has formally agreed to purchase Sebel Furniture Limited, the leading manufacturer and supplier of educational furniture in Australia with operations in New Zealand, Hong Kong and the United Kingdom.
The sale will be finalised on 30th September 2011.
Under the agreement, Sebel Furniture will continue to operate as a standalone division of KI. Sebel Furniture will maintain its product portfolio of education furniture solutions, which will continue to be marketed and manufactured - along with KI select products in its current markets and territories.
Key purchase Considerations (requirements):
1. This acquisition is consistent with KI’s international growth strategy.
2. Sebel Furniture will enhance KI’s leadership positioning in our top core market education.
3. Sebel furniture shares common values with KI, including:
Focus on trusted expertise
Sebel Furniture is well positioned to grow under KI Leadership. Under the agreement, Sebel Furniture will continue to operate as a stand alone business. Its management team and staff will remain intact. There will be no noticeable changes for KI personnel.