In a move that expands Home Depot’s linens and décor offerings, the world’s largest home improvement retailer has acquired The Company Store from Hanover Direct.
The Company Store, based in La Crosse, Wis., and founded in 1911, is an online retailer and manufacturer of textiles and home décor products. Terms of the deal, which closed on Dec. 19, were not disclosed. The acquisition does not include The Company Store’s five physical retail locations.
In a press release, Home Depot said, “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.”
"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 Home Depot.
Home Depot, based in Atlanta, operates 2,284 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. Last month, Home Depot reported third quarter sales of $25 billion, up 8.1% from the same quarter last year.