HP to sell home decor website to Canadian company
AUSTIN, Texas –(BUSINESS WIRE)– HP Inc. is announcing that it is going to sell a home decor company to a Canadian company that specializes in making home furnishings for businesses.
The sale of the company is subject to the terms and conditions of the merger agreement HP has signed with the Canadian company, the company said in a press release.
The deal is expected to close by the end of March, HP said.
The acquisition, which was first reported by the Wall Street Journal, will create HP Canada Inc. and provide HP a global footprint for home decor.
HP will retain control over the company, with the exception of management and executive positions, and will remain the largest component in HP Canada, the release said.
HP Canada is a joint venture of HP Canada Holdings Ltd.
and Canadian National Inc. The combined company will be based in Toronto.HP Canada is known for its home furnishishments, which include wallpapers, bookshelves and other decorative items.