Home Depot expands product reach, online capabilities with acquisition
The Home Depot is showing its softer side, acquiring a company best known for its bedding, linens and home décor products.
The Home Depot has acquired The Company Store, an online retailer and cataloger of home décor and textile products, from Hanover Direct. The terms of the deal, which closed on Dec. 19, were not disclosed. The acquisition does not include The Company Store’s five retail locations, which are located in Wisconsin, North Carolina and Maine.
“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.
The Company Store was founded in 1911. In addition to its success as an online retailer, the company has strong relationships and industry leading capabilities in the development and sourcing of high quality textiles across bedding, bath, and related categories, Home Depot said in a release.
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.
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