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Adairs Ltd (ASX: ADH) has agreed to acquire Focus on Furniture for $80m.

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.

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