Target sheds Target Commercial Interiors
MINNEAPOLIS — Target's transformation continues as the retailer announced on Thursday that it will sell Target Commercial Interiors, a subsidiary that provides office furnishings and related services for business and commercial clients.
Minneapolis-based Omni Workspace Co., 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 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,” stated Target CFO John Mulligan.
TCI supplies office furniture to Target’s Minneapolis headquarters and its other offices around the country, and will remain a vendor partner to Target.