Vitra snaps up Artek
Contemporary furniture company Vitra has bought Finnish producer Artek for an undisclosed sum.
The deal will give Artek a greater international presence, according to Mirkku Kullberg, Artek ceo. 'The international dimension, which was a clear goal already in Artek's founding manifesto of 1935, needed to be revitalized. That arena is where we want to be, and alliances or ownership arrangements are one way of building the future. In our judgment, having an owner from the industry was the best choice for Artek,' he says.
Vitra has bought the company from Swedish family-owned investment company Proventus, which took over majority ownership of Artek from the founders' families in 1992.
'Vitra has held Artek in high regard for decades,' says Rolf Fehlbaum,' Vitra chairman. 'Like Vitra it is a commercial-cultural project which plays an avant-garde role in its sector. For Vitra it is important that Artek can continue and further develop this role.'
Artek will continue to operate as a separate company, with no immediate plans for changes in management or manufacturing.