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.

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