The Home Depot Acquires The Company Store, Broadening Capabilities In Home Textile Categories
ATLANTA, Dec. 21, 2017 — The Home Depot announced today that it has acquired The Company Store, a leading online retailer of textiles and home decor products, from Hanover Direct. The deal closed on December 19 and terms were not disclosed.
In addition to its success as an online retailer, 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. Founded in 1911, The Company Store has a rich history of providing products that are highly sought after by customers as they put the finishing touches on a room.
The acquisition marks an obvious move for Home Depot into the “soft goods” segment of home decor and renovation, which, according to a report from Credit Suisse’s Seth Sigman, accounted for only 3 percent, or $25 billion, of the company 2016 sales. Sigman also added that The Company Store, known for its bedding, bath, and other textile products, will help position Home Depot for an expanded demographic.
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