ABC CARPET & HOME FOR SALE? COLE ELUSIVE ON POSSIBILITY OF NEW OWNERS.(Brief Article)
HFN: The Weekly Newspaper for the Home Furnishing Network, December, 1999 by Herlihy, Janet
NEW YORK-Despite published reports that ABC Carpet & Home is seeking a buyer -- not for its home furnishings, but for the entire operation -- it's no sure thing just what the venerable icon of home furnishings here has in mind.
A Crain's article published late last month reported that ABC had retained Goldman Sachs Group Inc. to handle a proposed sale with an asking price of $150 million. Possible reasons given for the sale included a need for additional financial backing to expand the stores or that the present owners are ready to cash out.
While Evan Cole, president of ABC Carpet & Home, acknowledged working with Goldman Sachs, he didn't confirm that ABC is seeking new ownership. Instead he said, "With the help of Goldman Sachs, we are exploring...
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