Standard Pacific Deal
Dow Jones
COSTA MESA — Standard Pacific Corp. signed a definitive agreement to sell the stock of its Panel Concepts Inc.’s office furniture systems unit to Hon Industries Inc. for $8.8 million.
Standard Pacific said the purchase price is after the distribution of about $9 million in certain assets to Standard Pacific. The transaction is expected to close Dec. 1.
Hon Industries is a national furniture manufacturer. Standard Pacific builds single-family homes.
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