What happened to the Adairs (ASX: ADH) share price today? Adairs share price

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The Adairs Ltd The share price (ASX: ADH) ended in the green today after finalizing the acquisition of Focus on Furniture.

Despite a dismal start to the day, Adairs stock was up 0.28% to $ 3.60 at the close of Wednesday’s session. This compared favorably to the S & P / ASX 200 Index (ASX: XJO), which ended down 0.28%.

Why is the Adairs share price holding up?

Adairs last week announced an $ 80 million deal to acquire Focus on Furniture. Investors appeared to welcome the news of the acquisition, with shares of furniture company ASX rising 4.1% on November 25 from the previous close.

The debt-free acquisition will see Adairs pay $ 74 million in cash as well as a $ 6 million equity offering to Focus CEO Rob Santalucia, who will remain as Focus’s head.

Adairs said it now owns and operates 3 vertically integrated brands in the home retail category – Adairs, Mocka and Focus on Furniture.

Focus brings 23 stores in Australia to the mix with sales of over $ 150 million in fiscal 2021. The company achieved sales of over $ 150 million during the year. fiscal year 2021.

Adairs already has 160 stores in Australia and New Zealand and added some 950,000 customers to its Linen Lovers loyalty program at the end of fiscal 2021.

Adairs share price snapsot

The Adairs share price has climbed 12.85% in the past 12 months, despite ongoing COVID-19 lockdowns that have impacted some companies in the retail industry. Adairs stock is up 5.57% year-to-date.

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