Home Depot Buys the Company Store for Undisclosed Amount

12/21/17 08:40 AM EST
   By Allison Prang 
 

Home Depot bought home-decor and textiles retailer the Company Store from Hanover Direct for an undisclosed amount.

The Company Store's five retail locations weren't part of the deal, which closed Tuesday, Home Depot said.

"The acquisition of the Company Store provides product development and sourcing capabilities to help us expand our online decor business into broader categories across the entire home," Home Depot Chief Executive Craig Menear said in prepared remarks.

Shares of Home Depot rose 0.3% premarket.

 

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

December 21, 2017 08:40 ET (13:40 GMT)

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