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OFS Brands to Acquire Loewenstein

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OFS Brands, Inc., a leading North American furniture manufacturer, announced that it has signed a binding letter of intent to acquire certain assets of Loewenstein, Inc., a furniture manufacturer specializing in the hospitality, corporate and educational market segments. Finalterms of the acquisition were not disclosed. Loewenstein has 40 plus years’ history in furniture manufacturing. The company was an early pioneer inbringing European design to the US market. They are recognized as a premier brand servicing thehospitality and contract segments of the furniture industry. OFS Brands’ President and CEO, Hank Menke, stated, “We are very excited about the potential this acquisition will offer, and we are looking forward toworking with the many talented people currently employed by Loewenstein. Our primary focus will be to cultivate the significant opportunities within the hospitality market as we demonstrate our commitment and determination to enter new growth markets, which can best leverage our core competencies.” “The acquisition of Loewenstein allows for our seamless expansion into the hospitality market.” states Mike Wagner, Sr. VP of Sales and Marketing. “Our marketing strategy will be to protect the individual character of the Loewenstein brand and allow it to operate independently in the marketplace. This is a great opportunity for our company, and we are very excited about Loewenstein’s future potential.” OFS Brands, Inc. is a family owned corporation headquartered in Huntingburg, IN and is committed to providing socially responsible furniture and logistic solutions through better design, innovative products and services, and greater value to its customers. For more information on the companies, please visit their websites at www.ofsbrands.com and www.loewensteininc.com.

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