12212017 Home Depot Acquires The Company Store to Expand Online Home Textiles Presence
HOME DEPOT ACQUIRES THE COMPANY STORE TO EXPAND IN ONLINE HOME TEXTILES
ATLANTA -- The Home Depot announced today that it has acquired The Company Store, a leading online retailer of textiles and home décor products, from Hanover Direct. The deal closed on December 19 and terms were not disclosed.
In addition to its success as an online retailer, The Company Store has strong relationships and industry leading capabilities in the development and sourcing of high quality textiles across bedding, bath, and related categories. Founded in 1911, The Company Store has a rich history of providing products that are highly sought after by customers as they put the finishing touches on a room.
"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," said Craig Menear, chairman, CEO and president of The Home Depot. "On behalf of our 400,000-plus associates, I want to welcome The Company Store's talented associates into The Home Depot family."
The acquisition does not include The Company Store's five retail locations.
The Home Depot is the world's largest home improvement specialty retailer, with 2,284 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2016, The Home Depot had sales of $94.6 billion and earnings of $8.0 billion. The Company employs more than 400,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.