Firm To Buy Home Interiors & Gifts
DALLAS (AP) _ The investment firm Hicks, Muse, Tate & Furst is buying most of Home Interiors & Gifts for $920 million.
Under terms of the transaction, Hicks Muse will own about 65 percent of the company. The remaining 35 percent of Home Interiors & Gifts will continue to be owned by members of the company’s founding family as well as one employee of the firm.
Home Interiors & Gifts is one of the nation’s leading direct selling businesses and among the largest private companies in the United States. It specializes in the production and distribution of decorative accessories and gift items and expects sales to exceed $500 million in 1998.
It employs more than 1,240 people in the Dallas area and also has a workforce of 210 people in Grand Island, Neb.
Dallas-based Hicks, Muse, Tate & Furst has completed or currently has pending more than 200 acquisitions with a total capital value of approximately $28 billion.