Published on : Monday, August 31, 2015
Nowy Styl Group, one of the leaders of the European office furniture market, is taking over another foreign furniture company. In Zurich the members of the Management Board signed a contract concerning the acquisition of the Swiss company SITAG AG.
The acquisition is the result of negotiations and the process of obtaining additional funds which lasted several months. The whole process was carried out by Adam Krzanowski ¬ the President of the Nowy Styl Group’s Management Board and Rafał Chwast ¬ the Vice President of the Nowy Styl Group’s Management Board.
The SITAG company manufactures designer and ergonomic chairs and armchairs, and functional furniture systems for office spaces, reception areas and conference halls. The company does not supply only products, but ¬ according to the Nowy Styl Group’s philosophy ¬ also comprehensive services concerning interior arrangement.
The SITAG company was established 50 years ago. In 1993-97 it belonged to the Furniture Group Samas. Since 2009 its controlling owner has been the Dutch investment fund NIMBUS.
SITAG, with its annual revenue amounting to 30 mln CHF, can be found in the European Top 100 Office Furniture Companies.
Thanks to the acquisition, Nowy Styl Group will enter the highly developed and very important Swiss market which, together with the German and Austrian markets, belongs to the strongest ones in Western Europe.
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