Hunter Douglas

Hunter Douglas N.V. is a Dutch multinational corporation. Its principal business is making window blinds and coverings.[1][2] The company is publicly listed.

Hunter Douglas N.V.
TypePublic
Euronext Amsterdam: HDG
IndustryWindow coverings
Founded1919 (1919), in Düsseldorf, Germany
HeadquartersRotterdam, The Netherlands
Key people
  • João Castro Neves (CEO)
  • David H. Sonnenberg (Executive Chairman)
  • Marko H. Sonnenberg (Senior Advisor)
Number of employees
23,618
Parent3G Capital
Websitehunterdouglasgroup.com

The head office is in Rotterdam, the Netherlands, and a management office in Lucerne, Switzerland.

Structure

The current corporate structure, Hunter Douglas N.V., was formed in the Netherlands Antilles in 1971 as a result of a restructuring of the previous Canadian entity, Hunter Douglas Ltd.[3][4] For tax reasons, investors could select either common or preferred shares through 1990. The company operates in more than 100 countries.[5]

In February 2022, former CEO Ralph Sonnenberg transferred a 75% interest to 3G Capital through a Block Trade, the Sonnenberg Family now owns 25% of Hunter Douglas Group.[6]

Acquisitions

In 2013, Hunter Douglas purchased a minority stake in 247 Home Furnishings Ltd (247), which they did not make known to the Competitions and Markets Authority (CMA). At a later date in 2016, Hunter Douglas purchased a majority share in Blinds2Go which is by far the largest UK retailer of made-to-measure blinds. Following that, Hunter Douglas made a second acquisition of Hillarys Blinds in 2017. At this point, Hunter Douglas already owned a significant share of the market before purchasing a majority stake of 51% for 247 in 2019. The initial purchase in 2013 had not been cleared with the CMA and the second purchase would have given Hunter Douglas 100% ownership of 247. As a result of concerns around competition in the market, Hunter Douglas was forced to sell their 51% purchase of shares from 2019. This sale was completed and approved by the CMA and went to Cristobal Consulting Ltd.[7][8][9][10]

In March 2022, Hunter Douglas completed the acquisition of 74% of Droma-Sunshade Experts, an exterior sunscreen assembler, with a fast-growing sales presence in Western Europe.[11]

References
  1. "Company News: Hunter Douglass to Purchase Comfortex". The New York Times. 26 June 1999. p. 3. Retrieved 23 March 2013.
  2. Leib, Jeffrey (May 25, 1992). "Hunter Douglas keeps secrets in shade: Broomfield window-covering firm expects $350 million in sales in '92". Denver Post. Retrieved March 21, 2013.
  3. Love, Johnathan (1977). Jane's Major Companies of Europe. London: Sampson Low, Marston & Company. pp. E–25. ISBN 9780531032640.
  4. "Profile". Canadian Business. CB Media. 1972.
  5. "About Hunter Douglas". Hunter Douglas. Retrieved June 12, 2022.
  6. "3G CAPITAL COMPLETES ACQUISITION OF CONTROLLING INTEREST IN HUNTER DOUGLAS". Hunter Douglas IR. February 25, 2022. Retrieved June 12, 2022.
  7. "Hunter Douglas N.V. / 247 Home Furnishings Ltd merger inquiry". 21 November 2019. Retrieved 13 January 2022.
  8. "Customers could lose out in merger between window blind companies". 16 July 2020. Retrieved 13 January 2022.
  9. "Final decision published in window blind merger inquiry". 14 September 2020. Retrieved 13 January 2022.
  10. "Window Blind Deal Clared by CMA". 4 August 2021. Retrieved 13 January 2022.
  11. "HUNTER DOUGLAS COMPLETES ACQUISITION OF 74% OF DROMA-SUNSHADE EXPERTS". Hunter Douglas IR. March 3, 2022. Retrieved June 12, 2022.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.