E-Commerce Startup Fab Has Acquired A Furniture Company

Here's the latest move from Fab: It's buying a furniture company.

We'll have more shortly, until then, here's the email from Fab:

I want to share with you exciting news this morning: Fab has acquired One Nordic Furniture Company based in Helsinki, Finland and Stockholm, Sweden. The deal closed just minutes ago. Below are key points and statements from both teams, should that be helpful in any coverage. Please feel free to reach out with questions. Key points:

• Fab has acquired the One Nordic Furniture Company of Helsinki, Finland and Stockholm, Sweden.
• Fab, the U.S.-based design e-retailer, delivers a global team of design, retail and marketing experts; a proprietary ecommerce platform; and the backing of some of the top investors in the world
• Long a darling of the Nordic design community, One Nordic brings expertise in innovative furniture design and manufacturing and a track record in online furniture sales
• The acquisition is a combination of cash and stock, valued in the tens of millions of dollars
• The One Nordic team will own 5% of the combined company with the finalization of the transaction

Statements:

We are pleased to announce a seminal partnership for Fab: the acquisition of One Nordic Furniture Company of Helsinki, Finland and Stockholm, Sweden. Long a darling of the Nordic design community, One Nordic brings expertise in innovative furniture design and manufacturing and a track record in online furniture sales to Fab's global team of design, retail and marketing experts.

The acquisition flows from a long-term strategic plan we laid out last fall. We have seen great success in our recent private label initiatives and customized furniture launches; our acquisition of One Nordic is the next step in pursuing this plan that is proving itself in market.

Fab CEO Jason Goldberg:

"Design is at the center of Fab-and has been since Day 1. Teaming up with One Nordic adds incredible talent to our design bench and brings us ever-closer to our suppliers and manufacturers. We are excited about the design collaboration to come."

One Nordic CEO Joel Roos:

"We have dedicated ourselves to designing high quality furniture and accessories that deliver on a Nordic sensibility, updated for the 21st Century. Now, our partnership with Fab offers a new platform through which to share our work with people around the world."