Grand Rapids-based Kindel Furniture Co. has acquired the assets, intellectual property and operations of Karges Furniture of Evansville, Ind.
The 128-year-old Karges manufactures luxury, hand-made, American furniture. By acquiring Karges, the family owned Kindel plans to expand its domestic and international distribution and increase marketing and customer service, as well as broaden its offering of specialty finishes.
The acquisition comes after Kindel announced last year that it was pursuing a new growth strategy of building a portfolio of brands through acquisitions that it could market in the U.S. and foreign markets.
Terms of the deal were not disclosed.
“Our desire is to invest in the Karges brand and continue the tradition of craftsmanship carried forth by five generations of Karges family ownership,” James A. Fisher, chairman of Kindel, said in a statement. “Not only does it ensure the continuation of the Karges brand, but it strengthens the Kindel brand because we share the same values of American-made craftsmanship.”
As part of the deal, Gretchen Keith, the great-great-granddaughter of company founder Albert Karges, plans to join Kindel as vice president of marketing and sales.
President Joan Karges Rogier said the deal to sell the company was “bittersweet,” but she acknowledged that Kindel was “the right company to carry on the Karges tradition.”
The transaction is effective immediately, according to a statement. The backlog of Karges’ business will be completed in Evansville and at Kindel in Grand Rapids, and production operations will transition to Kindel by this fall.