MILAN — In a widely expected move, Italian furniture and lighting conglomerate Flos B&B Italia has sold historic lighting manufacturer Louis Poulsen. The funds from the sale will go toward paying down its debt, the firm said.
A spokesperson for the company said Friday that the strategy for the time being remains focused on bolstering Flos B&B Italia’s galaxy of brands, which is anchored in heritage Italian companies like furniture brands B&B Italia and Maxalto, kitchen-maker Arclinea and Flos in lighting.
“The proceeds deriving from the sale will be used in compliance with the group’s existing financial agreements, including through a partial reduction in debt,” the firm said in a statement.
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