Best Buy Co., Inc. completed its U.S. $410 million acquisition of Pacific Sales Kitchen and Bath Centers, Inc., a privately owned retailer of high-end home improvement products that operates 14 showrooms in Southern California. The acquisition closed on March 7, 2006, during Best Buy's first quarter of fiscal 2007. Pacific Sales operates as a wholly owned subsidiary of Best Buy.
"Pacific Sales extends Best Buy's reach with high-end home improvement products," said Brian Dunn, Best Buy's president and chief operating officer. "This acquisition enhances our ability to grow with an attractive customer base and premium brands. We plan to leverage Pacific Sales' proven and successful showroom format to capitalize on the rapidly growing high-end segment of the U.S. kitchen and bath market."
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