Bruun & Hjejle advises on new major sale of Danish design icon08.06.2018
Nine United Denmark A/S (better known as “HAY”), a Danish design and furniture brand, has announced the sale of 33% of the shares in HAY to Herman Miller, Inc. (NASDAQ: MLHR) for $66 million.
HAY was founded by Mette and Rolf Hay and business partner Troels Holch Povlsen in 2002 with the ambition to create contemporary modern furniture. The combination of the founders’ commitment, commercial insight and creative mind has resulted in significant growth, and, today, HAY is a global player within contemporary home and office furnishings and accessories.
Herman Miller, Inc. is a 100-year-old-plus company listed on NASDAQ, which manufactures classic and modern furniture for the home and offices, and it is known for its collaborations with legendary designers such as Charles and Ray Eames.
Rolf Hay views Herman Miller as the perfect partner for expanding HAY’s position and states:
“On a personal level, Herman Miller and the work of Charles and Ray Eames are big reasons I do what I do today, and I am excited to align with a company that shares our sense of purpose and values.”
Bruun & Hjejle acted as legal counsel to the Hay-family and has advised on the legal aspects of the transaction, including contractual documentation, negotiations and future ownership structure for HAY.
The transaction follows Bruun & Hjejle’s role as legal advisor to Muuto and underlines Bruun & Hjejle’s commitment to complex transactions.
For further information, please contact:
Mogens Thorninger, Partner, +45 30 18 87 30