Minneapolis-based Omni Workspace Company will acquire TCI
MINNEAPOLIS — May 14, 2015
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.
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.