HomeClub Inc. and Zayre Corp. last week...

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.