HomeClub Inc. and Zayre Corp. last week...
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HomeClub Inc. and Zayre Corp. last week jointly announced completion of Zayre’s acquisition of the Fullerton-based retailer of home improvement supplies.
As a result of the tax free merger, each share of HomeClub’s stock was converted into .2373 of a share of Framingham, Mass.-based Zayre common stock.
Maurice Segall, president and chief executive of Zayre, said the acquisition is part of Zayre’s long-term strategy to become a “diversified, value-based chain store retailer.”
HomeClub will continue to operate from its Fullerton headquarters.
