Hunter Douglas to Acquire Hillarys
Rotterdam, May 11, 2017 – Hunter Douglas, a major manufacturer of window coverings (Luxaflex™) and architectural products, has agreed to acquire Hillarys, a UK retailer of blinds, curtains and carpets with significant expertise in in-home sales, from Ares Capital Corporation, for a purchase price of GBP 300 million. Hillarys had 2016 sales of GBP 185 million and employs around 1,300 people.
The acquisition adds a strong brand and value offer for a wide customer base to Hunter Douglas in the UK.
Hillarys will remain a standalone business and management will remain unchanged.
The Investment Portfolio is being phased out to fund part of this acquisition.
Hunter Douglas has its Head Office in Rotterdam, the Netherlands, and a Management Office in Lucerne, Switzerland. The Hunter Douglas Group is comprised of 130 companies with 50 manufacturing and 80 assembly operations in more than 100 countries. Hunter Douglas employs about 21,000 people and had sales in 2016 of USD 2.821 billion.
The common shares of Hunter Douglas N.V. are traded on Amsterdam’s Euronext and the Deutsche Börse.
SOURCE: Hunter Douglas