Financial Advisor
Conn’s, Inc.
M&A Advisory
Has Acquired
A Subsidiary Of
Transaction Details
On December 18, 2023, Conn’s, Inc. (NASDAQ: CONN) (“Conn’s”) announced that it has consummated a transaction that has resulted in W.S. Badcock LLC (“Badcock”) becoming a wholly-owned subsidiary of Conn’s. Management of Conn’s expects the acquisition of Badcock to provide:
- Accelerated growth opportunities by combining two complementary businesses
- Increased scale, creating one of the largest home goods retailers with 550+ stores across 15 states and expected annual revenue of approximately $1.85 billion
- A stronger financial profile:
- over $50 million of expected cost synergies on a run-rate basis
- enhanced Conn’s balance sheet by bringing approximately $125 million of incremental liquidity
- extended debt maturities by three years
About the company
Conn’s, Inc.
Conn's HomePlus (NASDAQ: CONN) is a specialty retailer of home goods, including furniture and mattresses, appliances and consumer electronics. With 175+ stores across 15 states and online at Conns.com, our approximately 4,000 employees strive to help all customers create a home they love through access to high-quality products, next-day delivery and personalized payment options, including our flexible, in-house credit program. Additional information can be found by visiting our investor relations website at https://ir.conns.com and social channels (@connshomeplus on Twitter, Instagram, Facebook and LinkedIn).
W.S. Badcock
W.S. Badcock LLC is a Southeastern home furnishings company headquartered in Mulberry, FL. Founded in 1904, its branded Badcock Home Furniture & more retail chain has grown to nearly 380 corporate and associate dealer stores across eight states. Badcock offers furniture, appliances, bedding, electronics, home office furnishing, accessories and seasonal items while providing payment plans just right for its customers. For more information, visit www.badcock.com.
Sources: Company Press Release.
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“Stephens” (the company brand name) is a leading family-owned investment firm that includes Stephens Inc. (member NYSE/SIPC), Stephens Investment Management Group, LLC, Stephens Insurance, LLC, Stephens Capital Partners LLC and Stephens Europe Limited (Registered office: 12 Arthur Street, London, EC4R 9AB, Registered number 8817024), which is authorised and regulated by the Financial Conduct Authority. © 2023 Stephens.
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