HNI Corporation, a leading global office furniture manufacturer, announced Monday that it has acquired Steelcase, one of West Michigan’s largest office furniture makers, for $2.2 billion. The acquisition brings together two industry giants, with HNI rising from humble beginnings to become a top player alongside Steelcase and MillerKnoll.
Founded in 1944 by engineer C. Maxwell Stanley, advertising executive Clem Hanson, and industrial designer H. Wood Miller in Muscatine, Iowa, HNI has grown to employ around 7,100 people worldwide. Employees benefit from profit sharing and stock ownership. The acquisition includes all of Steelcase’s 11,300 employees globally, with 3,500 in the Grand Rapids area.
HNI will establish a joint integration planning team to facilitate the merger, which is expected to be completed by the end of 2025. The company operates several office furniture brands under its portfolio, including HON, Allsteel, Gunlocke, and Danish Design Store. It also produces hearth products such as fireplaces and stoves.
In recent years, HNI has made significant acquisitions, including Steelcase’s rival Kimball International in a $485 million deal announced in June 2023. The company reported a 7% increase in net sales for the second quarter of fiscal year 2025, driven by a 5% rise in contract orders for workplace furnishings.
HNI Chair, President and CEO Jeff Lorenger stated that the successful integration of Kimball International has proven their playbook, utilizing cross-functional teams to drive results.
Source: https://www.mlive.com/news/grand-rapids/2025/08/who-is-the-iowa-company-buying-steelcase-for-22b.html