HNI buys India-based furniture maker

HNI buys office furniture maker BP Ergo for undisclosed sum to expand in India

Associated Press

MUSCATINE, Iowa (AP) -- Furniture and fireplace maker HNI Corp. has acquired office furniture company BP Ergo Ltd., based in India, for an undisclosed sum.

HNI said Monday that the deal will help give it an edge in India, one of the largest and fastest-growing office furniture markets in the world. The Iowa-based company is working to expand in fast-growing markets such as China and India.

BP Ergo will operate as a stand-alone business. The deal is expected to have minimal impact on HNI's 2012 earnings.

HNI is the second-largest office furniture manufacturer in the world and also a major manufacturer of gas- and wood-burning fireplaces. Its shares fell 3 cents to $26.97 in afternoon trading.

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