Hellman & Friedman wraps up $2.8bn acquisition of At Home Group
Hellman & Friedman (H&F) has wrapped up its previously announced $2.8bn acquisition of American furniture store chain At Home Group.
With the closing of the deal, At Home Group has become a privately owned company, and has been delisted from the New York Stock Exchange (NYSE).
As per the deal signed in May 2021, shareholders of the home décor superstore chain were offered $36 per share by the private equity firm. The consideration includes the assumption of At Home Group’s net debt.
Erik Ragatz – Partner at Hellman & Friedman said: “Hellman & Friedman takes great pride in partnering with outstanding management teams to invest in highly differentiated businesses with substantial room for growth. At Home fits that bill perfectly.
“We believe the unique shopping experience and compelling value At Home offers consumers will position the Company to continue to grow and take market share in the coming years, and we have great confidence in the team at At Home to deliver on this potential.”
Hellman & Friedman wraps up $2.8bn acquisition of At Home Group. Photo courtesy of Business Wire.
Based in Plano, Texas, At Home Group presently operates 230 stores across 40 states in the US. The retailer has more than 50,000 on-trend home products to offer for its customers — from furniture, rugs, mirrors, art and housewares to tabletop, patio as well as seasonal decor.
Lee Bird – Chairman and CEO of At Home said: “This transaction will allow us to partner with H&F to help continue our store expansion, grow our offering and strengthen our position as the leading retailer of home décor.
“I’m thankful to all our team members whose hard work has contributed to At Home’s success and made this transaction possible. I am confident H&F will help strengthen our business.”