Mobilier At Home acquired for $ 2.8 billion in cash

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PLANO, Texas – Retail interior design giant At Home was acquired by U.S. private equity firm Hellman & Friedman for $ 2.8 billion in an all-cash transaction.

“At Home is well positioned to continue its long history of store expansion and growth,” said Erik Ragatz, H&F partner. “At Home’s differentiated and low-cost operating model disrupts traditional domestic channels and offers a strong opportunity to gain market share. This acquisition is in line with Hellman & Friedman’s strategy of investing in market-leading companies with substantial growth potential, and we look forward to partnering with At Home’s talented leadership team to help capture the important market opportunity available to the company.

Under the agreement, At Home shareholders will receive $ 36.00 per share in cash, which is a premium of approximately 17% over the closing share price of the company of 30.67. $ on May 4, 2021, the last trading day before media speculation about a possible trade, and a premium of around 25% over the 30-day volume-weighted average price.

“As we move into the next chapter of our business, H&F is the perfect partner to advance our long-term At Home 2.0 strategy,” said Lee Bird, CEO of At Home. “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 transaction is expected to close in the third quarter of calendar year 2021.

At Home sells furniture, mirrors, rugs, artwork, housewares, as well as table tops, decks, and seasonal decorations. At Home is headquartered in Plano, Texas, and currently operates 226 stores in 40 states.

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