Aga sells majority stake in Domain Home
June 20, 2007-- Home Textiles Today,
Norwood, Mass. – Furniture, bedding and home furnishings store Domain Home has been sold, with New Jersey-based private investment and management advisory firm Synergy Enterprises acquiring a majority stake from Aga Foodservice Group. A purchase price was not disclosed.
U.K.-based Aga, a producer of high-end stoves and refrigerators, will retain a 15% stake in the retailer. Domain retains the right to sell and market Aga kitchen and cooking products, the company said.
Domain founder and ceo Judy George will remain in her current position and continue to lead Domain and “has become a significant shareholder in the company,” according to a press release.
Founded in 1985, Domain was acquired by Aga in 2002 and soon began integrating Aga cooking products into its stores. The retailer said it operates 27 stores in seven Northeast and Mid-Atlantic states, with 2006 sales of $66.3 million.
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