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At Home Goes Private In A $2.8B Deal

At Home Goes Private In A $2.8B Deal

At Home Goes Private In A $2.8B Deal

Home decor retailer At Home has agreed to be acquired by private equity firm Hellman & Friedman in an all-cash deal worth $2.8 billion, including the assumption of the company’s debt.

According to the terms of the deal, At Home shareholders will receive $36 per share, which is about 17 percent higher than the May 4 closing price of $30.67 — the last trading day before media speculations of the deal began circulating.

“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.”

The retailer has seen significant growth over the course of the pandemic. The company has plans to open 12 to 15 stores across the country in 2021, Chain Store Age reported. Its stores are about 100,000 square feet big and they stock more than 50,000 home decor items.

At Home currently has some 266 locations in 40 states and the company sees the potential of running as many as 600 stores in the country. In April this year, the retailer reportedly opened its first location in New York City.

“At Home is well positioned to continue its long track record of store expansion and growth, said Erik Ragatz, partner at H&F. “At Home’s differentiated, low-cost operating model is disruptive to the traditional home channels and provides a strong opportunity for market share gain.”

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