Restoration Hardware taken private
Home & Textiles Today Staff -- Home Textiles Today, June 18, 2008
Corte Madera, Calif. – The acquisition of specialty retailer Restoration Hardware (RH) by a group of investors including Catterton Partners and RH chairman, president and ceo Gary Friedman has been completed, in a $4.50 per common share buyout.
In addition, under the settlement of dissident shareholder litigation, those holders not part of the Catterton group or RH executive management are entitled to receive a payment from a shareholder common fund in the amount of approximately 10 cents to 13 cents per share, the company said.
Catterton said it now shares controlling equity interest in RH with another private equity firm, Tower Three Partners LLC, which contributed an approximately equal investment.
As a result of the acquisition closing, Restoration Hardware’s common stock ceased trading on NASDAQ prior to the opening of the market today, and will no longer be listed.
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