The Home Depot announced that it has acquired The Company Store, a leading online retailer of textiles and home décor products, from Hanover Direct. The deal closed on December 19 and terms were not disclosed.

In addition to its success as an online retailer, The Company Store has strong relationships and industry leading capabilities in the development and sourcing of high quality textiles across bedding, bath, and related categories.  Founded in 1911, The Company Store has a rich history of providing products that are highly sought after by customers as they put the finishing touches on a room.

"The acquisition of The Company Store provides product development and sourcing capabilities to help us expand our online décor business into broader categories across the entire home," said Craig Menear, chairman, CEO and president of The Home Depot.  "On behalf of our 400,000-plus associates, I want to welcome The Company Store's talented associates into The Home Depot family."

The acquisition does not include The Company Store's five retail locations.