The $2.8 billion acquisition of At Home Group Inc. is a done deal.
The fast-growing value home-décor retailer has been acquired by private-equity firm Hellman & Friedman in an all-cash transaction valued at $2.8 billion, including the assumption of debt. With the completion of the acquisition, initially announced in May 2021, At Home’s common stock ceased trading and the company is no longer listed on the New York Stock Exchange.
“Hellman & Friedman takes great pride in partnering with outstanding management teams to invest in highly differentiated businesses with substantial room for growth," said Erik Ragatz, partner at H&F. "At Home fits that bill perfectly. We believe the unique shopping experience and compelling value At Home offers consumers will position the company to continue to grow and take market share in the coming years, and we have great confidence in the team at At Home to deliver on this potential.”
At Home has been expanding its footprint nationwide. The company recently announced that it opened three stores in July. Two of the stores are on the East Coast in Princeton, N.J., and Abingdon, Md., and one store is on the West Coast in Temecula, Calif.
“This transaction will allow us to partner with H&F to help continue our store expansion, grow our offering and strengthen our position as the leading retailer of home décor,” said Lee Bird, chairman and CEO of At Home. "I am confident H&F will help strengthen our business.”
Goldman Sachs & Co. LLC served as exclusive financial advisor and Fried, Frank, Harris, Shriver & Jacobson LLP was legal counsel to the Special Committee. Guggenheim Securities, LLC served as financial advisor and Simpson Thacher & Bartlett LLP was legal counsel to Hellman & Friedman.
At Home is headquartered in Plano, Texas, and currently operates 231 stores, averaging about 100,000-sq.-ft., in 40 states.