Knoll Acquires D2C E-Commerce Seller

Knoll Acquires D2C E-Commerce Seller

Knoll has announced the acquisition of Fully, an Oregon-based ecommerce furniture brand that sells direct to consumer (D2C) into home office and small business customers.

Knoll is paying $35 million plus performance-related add-ons for Fully, and funded the transaction through cash on hand and borrowings under its credit facility.

Founded in 2006 by David Kahl, Fully specializes in height-adjustable desks, ergonomic chairs and accessories and has annual sales of around $54 million. Its digital platform will allow Knoll to reach a new group of home office and SMB customers outside of its traditional distribution model.

“This acquisition aligns with our strategy to reach clients wherever and however they work,” said Knoll CEO Andrew Cogan. “Fully’s design-driven products and unparalleled commitment to customer service reflect our goal to reach new consumers and small businesses, while broadening our range of products and price points as well.”

Fully is a certified B Corp company. Certified B Corporations are businesses that meet strict standards of verified social and environmental performance, public transparency and legal accountability. Following the acquisition, Fully will continue to operate as an independent B Corp company headquartered in Portland (OR), and Knoll said it would “maintain its spirited, independent brand identity and website”.

In addition, Knoll, Fully and Big Path Capital – which represented Fully in the transaction and is also a B Corp – will make a contribution to the non-profit B Lab, the organisation that oversees B Corp certification and B Impact management programs. - (OPI)