At Home Group, the fast-growing business has agreed to be purchased by private-equity firm Hellman & Friedman in an-all cash transaction.
Under the terms of the deal, At Home stockholders will get $36.00 per share in cash, a premium of about 17 per cent to the 4 May closing stock price of $30.67 on 4 May, which was the last trading day before media speculation of the deal.
“As we enter the next chapter for our company, H&F is the ideal partner to advance our At Home 2.0 long term strategy,” said At Home Chairman and CEO Lee Bird. “Together with H&F, we will have the resources and flexibility to provide our customers with a differentiated experience that meets their evolving needs.”
At Home, whose stores average about 100,000sq ft and sell more than 50,000 home décor items, plans to open 12 to 15 stores across the country this year. The retailer currently operates 226 locations in 40 states, and sees the long-term potential of operating 600-plus stores. In April, At Home opened its first location in New York City.
