Target Sells Target Commercial Interiors as Transformation Continues
15 May 2015 - 4:30AM
Business Wire
Minneapolis-based Omni Workspace Company will
acquire TCI
Target Corporation (NYSE:TGT) today announced it will sell
Target Commercial Interiors (TCI), a subsidiary that provides
office furnishings and related services for business and commercial
clients. Minneapolis-based Omni Workspace Company, more commonly
known as A&M Business Interior Services, will acquire TCI and
operate it as a wholly owned subsidiary. TCI will be renamed
following the completion of the acquisition.
Omni Workspace will retain TCI’s downtown Minneapolis
headquarters, located at 81 S. 9th Street, and will continue to
operate the six additional TCI furniture showrooms and offices
throughout Arizona, Illinois and Wisconsin. TCI’s leadership team
will remain in place, and its employees will become part of Omni
Workspace.
“Target is continuing to drive our transformation by focusing on
our core businesses and putting our guests at the center of
everything we do. Target Commercial Interiors has a rich history
and a great track record with clients, but its business model is
tailored to commercial customers. The decision to exit a business
is always difficult, but we are thrilled that TCI will remain in
Minneapolis,” said Target Chief Financial Officer John
Mulligan.
“I’m looking forward to the future as we join forces with nearly
30-year partner A&M Business Interior Services to combine
talented teams, industry expertise and a tremendous group of
clients. My leadership team and I are committed to ensuring a
smooth transition for our team and for Target,” said Mike Litwin,
vice president and general manager, Target Commercial
Interiors.
TCI was established in 1953 as Dayton’s Commercial Interiors,
changing its name in 2004 shortly after The Dayton Company became
Target Corporation. TCI supplies office furniture to Target’s
Minneapolis headquarters and its other offices around the country,
and will remain a vendor partner to Target.
About Target
Minneapolis-based Target Corporation (NYSE: TGT) serves guests
at 1,795 stores and at Target.com. Since 1946, Target has given 5
percent of its profit to communities, that giving equals more than
$4 million a week. For more information, visit
Target.com/Pressroom. For a behind-the-scenes look at Target, visit
Target.com/abullseyeview or follow @TargetNews on Twitter.
Target Public RelationsErin Conroy, 612-761-5928orTarget Media
Hotline, 612-696-3400
Target (NYSE:TGT)
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