Home Meridian

Hook Furniture Corp. (Nasdaq: HOFT) has agreed to buy Home Meridian International Inc. for $100 million, consisting of $85 million in cash and $15 million in stock.

Home Meridian, based in High Point, North Carolina, sells furniture under the Pulaski Furniture, Samuel Lawrence Furniture, Prime Resources International and Right 2 Home brands. The combined company has about $550 million in annual revenue. After the deal closes, Home Meridian will continue to operate independently and led by CEO George Revington.

“We are unbelievably excited at the prospect of having the individual businesses that compromise Home Meridian International become part of our Hooker Furniture Corp. stable of brands,” says Hooker Furniture CEO Paul Toms. To help fund the purchase, Hooker Furniture has received a financing commitment from Bank of America.

In other furniture related deals, Brentwood Associates bought Z Gallerie and Mattress Firm Holding Corp. (Nasdaq: MFRM) is buying Sleepy’s.

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