K+K Buys National Business Furniture
The U.S. subsidiary of Europe's largest mail-order supplier of hotel and office equipment said this week that it acquired National Business Furniture, a leading national mail-order office furniture firm. Terms were not disclosed.K+K America, Milwaukee, is owned by TAKKT AG, Stuttgart, Germany, which is represented in 25 countries and distributes 50 million catalogs and mailings annually. K+K America and its divisions, including C&H Distributors LLC, Avenue Industrial Supply, C&H Productos, Conney Safety Products and The Hubert Company, are leaders in the mail-order business for office, warehouse and food service equipment.
"This acquisition will strengthen K+K America's existing furniture business significantly," company president Thomas A. Loos said in a statement.
NBF has annual revenue surpassing $120 million. The U.S. market for office furniture has grown 3 percent annually from 1990 to 2005 while NBF grew more than 5 percent annually in the period, according to the statement.
The acquisition is to be completed Dec. 31.
