M&A News: Home Depot Inc Buys The Company Store

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Home Depot Inc (NYSE:HD) announced on Thursday that it has bought The Company Store.

M&A News: Home Depot Inc (HD) Buys The Company Store

Home Depot Inc says that it completed the acquisition of The Company Store on Dec. 19. This acquisition includes the company’s online store, as well as its development and sourcing capabilities for “textiles across bedding, bath, and related categories.”

Home Depot Inc notes that its acquisition of The Company Store doesn’t include all of its assets. The deal didn’t include the five retail locations that were operated by The Company Store. Details of the transaction also weren’t revealed by HD.

“The acquisition of The Company Store provides product development and sourcing capabilities to help us expand our online décor business into broader categories across the entire home,” Craig Menear, Chairman, CEO and President of Home Depot Inc, said in a statement. “On behalf of our 400,000-plus associates, I want to welcome The Company Store’s talented associates into The Home Depot family.”

Home Depot Inc’s decision to buy The Company Store shouldn’t come as much of a surprise. The company has previously indicated that it was looking to expand its home decor business. This is a growth market for the company that makes sense as the real estate market continues to perform well.

Home Depot Incs expansion into home decor will also likely help it to attract new customers. The typical HD customer is showing up for power tools, lumber and other products to help build or remodel a home. The acquisition will allow customers looking to change up their home decorations a new place to shop, reports USA Today.

HD stock was up slightly as of Thursday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/12/home-depot-inc-buys-the-company-store/.

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