Business news: startup furniture brand Hem has been acquired by a private buyer in a deal that will see designer and co-founder Petrus Palmér become CEO in place of Jason Goldberg, who will leave the company.
Details of the deal remain secret, but Dezeen understands that the two-year-old company has been acquired by Ormand AG, the little-known parent company of Swiss furniture brand Vitra.
Hem will move its headquarters from Berlin to Stockholm, where it already has offices.
"On 3 February 2016, Hem Design Inc will undergo an asset acquisition led by co-founder and head of design, Petrus Palmér, with backing from a private investment company," the company said in a statement. "As part of this next step, Petrus Palmér will assume the role of CEO and chief creative officer, shifting Hem's headquarters to Sweden and centralising design and operations in Stockholm. Founding CEO Jason Goldberg will depart Hem to pursue other endeavours."
Hem ? which allows customers to customise their products online and focuses on creating affordable designs that are easy to ship ? is understood to have had a number of suitors, with Vitra emerging as a potential purchaser at the end of last year.
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