Adairs Ltd (ASX:ADH) has announced it has agreed to acquire 100% of Focus on Furniture for an enterprise value of $80 million on a debt free basis. Under the acquisition, Adairs gains attractive growth potential through the strongly profitable business of Focus, the company?s 23 retail stores and growing online channel, and a collection of well designed, functional and on-trend home furniture and bedding under the Focus brand.
Adairs Ltd shares traded 4.68% higher at $3.58/share following the announcement.