At Home Group announced today that it has opened two new home décor stores in June, bringing the company’s store count to 228, just after revealing that the company was postponing its annual meeting in anticipation of an acquisition that is now contested.
The new stores are located in Sacramento, CA, a state that has lately been a focus of At Home’s growth strategy, and Denver, CO.
In May, At Home announced that Hellman & Friedman, a global private equity firm, would acquire the company in an all-cash transaction valued at $2.8 billion, including debt assumption.
The acquisition isn’t going through without opposition, The Wall Street Journal reported, citing a letter it reviewed from CAS Investments to the At Home board of directors. In it, the Journal reported, CAS, the largest At Home Group shareholder with a 17% ownership of its stock, stated that it would oppose the Hellman & Friedman acquisition, which would take the retailer private because the sale price determined is too low.
