The Home Depot acquires The Company Store
The Home Depot is growing its online presence and expanding its fulfillment capabilities with a key acquisition.
The company has acquired The Company Store, a leading online retailer of textiles and home décor products, from Hanover Direct. The deal closed on Dec. 19 and terms were not disclosed.
"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."
According to Home Depot, 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 does not include The Company Store's five retail locations.
Home Depot bought Compact Power Equipment for $265 million in July. The retailer has been moving aggressively to more closely link its stores with online services and home delivery.
The company operates 2,284 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.