On July 1, 2018, Big Lots, Inc. completed the acquisition of certain assets of Bargain Hunt, a regional closeout retailer. The transaction included all of Bargain Hunt’s 41 stores in 11 states, as well as its e-commerce platform.
The acquisition was part of Big Lots’ strategy to expand its footprint in the southeastern United States. Bargain Hunt’s stores are located in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Mississippi, Missouri, and Tennessee.
Big Lots plans to operate the Bargain Hunt stores under the Big Lots banner. The company expects to invest approximately $20 million in 2019 to remodel and relocate certain stores.
The acquisition is expected to be accretive to Big Lots’ earnings in 2019 and beyond.
Big Lots has been on an aggressive expansion campaign lately, and the purchase of Bargain Hunt is just the latest example. With 41 stores in 11 states now under its belt, Big Lots is looking to increase its footprint in the southeastern United States.
It plans to operate the Bargain Hunt stores under the Big Lots banner and invest $20 million in 2019 to remodel and relocate certain stores. The acquisition is expected to be accretive to Big Lots’ earnings in 2019 and beyond.
So if you’re wondering who did Big Lots buyout, the answer is Bargain Hunt. And with this latest acquisition, Big Lots is poised to continue its expansion into new markets.
