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Steelcase buys Spanish furniture maker Viccarbe

25.11.2021 − 

Steelcase has bought Viccarbe Hábitat with effect from 27 October 2021. The sellers were the two company founders Victor Carrasco and Daniel Benedito. In the framework of a cash transaction, Steelcase purchased all of the outstanding share capital in Viccarbe for €30m. Upon reaching specific performance targets, Steelcase wants to pay an additional €19m over the next five years. The two companies had already been working together in sales for more than ten years. Within the scope of the alliance, Steelcase had offered the Viccarbe collection in German-speaking Europe though its own network of specialist dealers, for example. Following the takeover, Steelcase wants to continue to operate Viccarbe as an independent subsidiary. Founded roughly twenty years ago, the company is to continue to be run by Carrasco and Benedito and the existing management team in future, too.

The Viccarbe portfolio includes chairs, upholstered furniture, and tables for waiting rooms and lounge areas. Besides products for interiors, Viccarbe also makes outdoor furniture. In the last twelve months until the end of September, the company generated sales revenue of €14.5m. Steelcase achieved sales revenue of US$2.596bn in its business year 2020/21 (end February). The group already covers the brands “AMQ”, “Coalesse”, “Designtex”, “Orangebox”, and “Smith System”.

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