At Home Group sold to private equity

At Home Group Inc., the home décor retailer is going private in a $2.8 billion deal.

The Plano, Texas-based retailer entered into a definitive agreement to be acquired by funds affiliated with Hellman & Friedman (H&F), a global private equity firm, in an all-cash transaction valued at $2.8 billion, including the assumption of debt.

At Home currently operates 226 stores in 40 states. The stores sell up to 50,000 home décor items for every room — from furniture, rugs, wall art and housewares to tabletop, patio and holiday décor. The average size of an At Home store is slightly over 100,000 square feet.

Phil Francis, At Home’s lead independent director and chair of the special committee of the board of directors, said, “After a thorough evaluation and diligent and thoughtful deliberations in consultation with our independent advisors, we are pleased to reach this agreement, which provides stockholders with immediate and substantial value for their investment.”

Under the terms of the agreement, At Home stockholders will receive $36.00 per share in cash, which represents a premium of approximately 17% to the Company's closing stock price of $30.67 on May 4, 2021, the last trading day prior to media speculation regarding a possible transaction, and a premium of approximately 25% to the 30-day volume weighted average share price.