headlines

K+K AMERICA TO ACQUIRE LEADING NATIONAL OFFICE FURNITURE MAIL ORDER COMPANY
Global subsidiary to purchase Milwaukee-based family-owned firm

MILWAUKEE, Wis. (November 14, 2005) – K+K America, a leader in the mail order business for office, warehouse and food service equipment, announced today that it has entered into an agreement to acquire National Business Furniture, the leading national mail order office furniture firm.

“This acquisition will strengthen K+K America’s existing furniture business significantly,” said Thomas A. Loos, President, K+K America. “Both organizations share a philosophy of strong customer service with a broad selection of products coupled with solid distribution methods that ensure speedy, accurate delivery and the best customer services.” The purchase price was undisclosed.

George and Julie Mosher founded National Business Furniture (NBF) in 1975. Working with a solid management team, NBF today has annual revenues in excess of $120 million. NBF maintains its corporate headquarters in Milwaukee, Wisconsin with additional offices in Atlanta, Dallas, Los Angeles and New York.

“K+K America is a perfect cultural fit for our business and provides a strategic knowledge sharing network,” said Kent Anderson, Chief Operating Officer for National Business Furniture. “In addition, this acquisition ensures that our offices maintain the National Business Furniture brand identity as well as to retain all our employees.”

The NBF management team will continue to lead the firm, while the Mosher family will remain through December 31, 2005 when the acquisition is scheduled to be completed, said Anderson. The US market for office furniture has grown by three percent annually from 1990 to 2005, while NBF has grown by more than five percent for the same period.

Headquartered in Milwaukee, Wisconsin, K+K America was founded in 1987 with the acquisition of C&H Distributors. K+K America is a subsidiary of TAKKT AG, a leading business-to-business mail order company for office, business and warehouse equipment worldwide. Represented in 25 countries, TAKKT AG employees 1,900 people with more than 2.6 million customers worldwide and distributes more than 50 million catalogs and mailings annually.

K+K America is the holding company for C&H Distributors, LLC, a leading business-to-business distributor of over 45,000 facility products for all types of commercial, industrial, and institutional customers throughout the U.S. Based in Milwaukee, Wisconsin, C&H Distributors has five strategically located warehouses nationwide. Also under the K+K America banner are: Avenue Industrial Supply (Toronto, Canada), C& H Productos (Mexico City, Mexico), Conney Safety Products (Madison, Wisconsin) and The Hubert Company (Cincinnati, Ohio).

For more information, visit: www.chdist.com or www.nationalbusinessfurniture.com

Source: K+K America