The deal calls for Flexsteel to pay DMI stockholders $3.30 a share and for Flexsteel to assume DMI’s $27 million in outstanding debt. DMI, and importer and marketer of residential and commercial office furniture, will be operated of an independent business unit of Flexsteel and its headquarters will remain in Louisville.
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Flexsteel Industries, Inc. (FLXS. and settlement of a defined benefit plan associated with the prior wholly owned subsidiary, DMI Furniture, Inc. unfavorably impacted SG&A by 220 basis points.
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Flexsteel offers quality furniture, built to last. The perfect blend of style and function for your home, business and recreation needs.
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