Canadian upholstery manufacturer Palliser has been acquired by long-time supplier and strategic partner MotoMotion.

The publication reported that it obtained a memo sent to employees by Palliser Holdings Executive Chairman Art DeFehr and President and CEO Peter Tielmann. The memo informed staff that the transaction was completed on May 29.

Financial details of the acquisition were not disclosed, according to Home News Now.

MotoMotion is a publicly traded company employing more than 7,000 people and operating manufacturing facilities across Vietnam, China, and Cambodia.

In its report, Home News Now noted that MotoMotion has built a strong reputation within the furniture industry through its vertically integrated business model, extensive global manufacturing network, and focus on innovation.

The acquisition is expected to provide Palliser with additional resources and capabilities to support the brand’s future growth. MotoMotion’s established sales, service, and distribution network throughout North America is also expected to strengthen Palliser’s market position.

According to the report, MotoMotion’s investment reflects a commitment to maintaining Palliser’s North American operations, including its Winnipeg headquarters and the teams that have helped build the company’s reputation over multiple generations.

Source: homenewsnow.com