Stratrix
On the Record · HNI

HNI acquisitions, on the record

The businesses HNI bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

BusinessDealWhenValue
Kimball International, Inc.
Word for word“On June 1, 2023, the Corporation acquired Kimball International, Inc. ("Kimball International") in a cash and stock transaction valued at $503.7 million.” 10-K for 2023
acquisitionOn June 1, 2023$503.7 million
Poppin Furniture, Inc, a business unit of Kimball International
Word for word“In 2023, significant developments included the second quarter acquisition of Kimball International in a cash and stock transaction valued at approximately $503.7 million, and the subsequent divestiture of Poppin Furniture, Inc, a business unit of Kimball International ("Poppin"), during the third quarter.” 10-K for 2023
divestitureduring the third quarter—
Lamex office furniture business (China- and Hong Kong-based)
Word for word“In the prior year, the Corporation recorded a pre-tax gain of $50.4 million as a result of the divestiture of Lamex in July 2022.” 10-K for 2023
divestitureJuly 2022—
a residential building products company
Word for word“Prior year activity includes $69.5 million received from the sale of the Lamex business as well as $11.4 million spent primarily to acquire residential building products companies.” 10-K for 2023
acquisition—$11.4 million spent primarily to acquire residential building products companies
Dickerson Hearth Products
Word for word“In June 2022, the Corporation acquired Dickerson Hearth Products ("Dickerson"), an installing fireplace distributor in the Raleigh, North Carolina area, for approximately $ 8 million.” 10-K for 2024
acquisitionJune 2022approximately $ 8 million
Poppin, Inc.
Word for word“In September 2023, the Corporation closed on the sale of substantially all of the assets of Poppin for $ 2.7 million in cash, net of selling costs.” 10-K for 2024
divestitureSeptember 2023$ 2.7 million in cash, net of selling costs
Lamex office furniture business
Word for word“In July 2022, the Corporation closed on the sale of its China- and Hong Kong-based Lamex office furniture business, which was a component of the workplace furnishings segment, to Kokuyo Co., Ltd., a leading manufacturer and provider of office furniture in Japan and across Asia, for approximately $ 75 million plus standard post-closing working capital adjustments, net of cash acquired by the buyer.” 10-K for 2024
divestitureJuly 2022approximately $ 75 million plus standard post-closing working capital adjustments, net of cash acquired by the buyer
Steelcase Inc.
Word for word“On December 10, 2025 the Corporation acquired by merger Steelcase Inc. ("Steelcase"), a global design and furniture company headquartered in Grand Rapids, Michigan, for total consideration of cash and HNI common stock valued at $1.9 billion.” 10-K for 2026
acquisitionDecember 10, 2025$1.9 billion
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedCash paid for acquisitions (net of cash acquired)Goodwill from acquisitions
2016-12-31$34.3 million$15.9 million
2017-12-30$898,000$0
2018-12-29$2.9 million$3.5 million
2019-12-28$0—
2021-01-02$58.3 million$50.1 million
2022-01-01$44.6 million$10.7 million
2022-12-31$11.4 million—
2023-12-30$369.7 million$162.7 million
2024-12-28$0—
2026-01-03$390.3 million$515.9 million

Deal filings since 2016

Read from HNI’s annual reports (10-K for 2026, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-03-03. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.