Announced
Completed
Financials
Sources
Tags
Household Furnishings
home furnishings
United States
Merger
Acquisition
Domestic
Majority
Private
Completed
Friendly
Single Bidder
Synopsis
Conn’s, a specialty retailer of home goods, including furniture and mattresses, appliances, and consumer electronics, completed the merger with W.S. Badcock, a home furnishings company in the southeastern US. Financial terms were not disclosed. "Today's announcement transforms Conn’s into a leading home goods retailer that is expected to have $1.85bn in revenue across strong urban and rural markets in the southern US. We believe the combination of these two complementary businesses will produce significant value as we pursue credit driven revenue growth strategies, enhance Badcock’s in-house credit offering, and leverage a more diverse and larger organization. For over 120 years, both Conn’s and Badcock have provided customers with home goods they want, at prices they love, with affordable payment solutions. We look forward to building on this legacy by leveraging Conn’s capabilities, expertise, and innovation to support greater opportunities for our combined communities, customers, dealers, and employees. As a result, we are confident this combination will produce significant long-term value for all of our shareholders," Norm Miller, Conn’s President and CEO.
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