HNI Corp. and its Hearth & Home Technologies business have acquired Vermont Castings Group, a leading manufacturer of freestanding hearth stoves and fireplaces. Vermont Castings Group has annual revenue of approximately $100 million.

Stan Askren, chair, president, and CEO of HNI Corp., says, “We’re excited about Vermont Castings Group joining HNI Corp. as part of our hearth business. Its unique brands, strong customer relationships, and quality products are a great fit with our hearth strategy and hearth-brand portfolio.”

Brad Determan, president of Hearth & Home Technologies, says, “We look forward to working with the entire Vermont Castings team and leveraging our lean and marketing expertise to achieve outstanding customer support and profitable growth for Vermont Castings’ channel partners and end users. We are pleased to welcome the employees and customers of Vermont Castings Group to the Hearth & Home Technologies family. Vermont Castings Group’s brands have long and proud histories, and we are excited to add these to our industry-leading family of hearth brands.”

Ricardo León, president of Vermont Castings Group, will continue in his role and report to Determan. The transaction was completed as an all-cash transaction and is expected to provide a nominal profit contribution in 2014 and to contribute positively to 2015 earnings.