In December 2010 Home & Decor Holdings (“HDH”) completed the acquisition of two leading specialty retail businesses, Adairs Retail Group (“Adairs”), and Dusk Australasia (“Dusk”).

HDH is a newly formed company majority owned by Catalyst Buyout Fund 2. HDH’s other substantial shareholders are BB Retail Capital and the senior management of Adairs and Dusk.

The businesses in the HDH group will continue to be independently managed, and led by their highly experienced existing management teams.

Adairs is Australia’s leading specialty retailer of manchester & soft furnishings in the Australian market with annual sales in excess of $120m and over 110 stores at acquisition. Adairs is growing quickly and will continue to roll out stores across Australia. Adairs head office will remain in Melbourne.

Dusk is Australia’s leading specialty retailer of candles, home fragrance & giftware products, with over 70 stores and sales in excess of $55m at acquisition. Dusk also has a strong track record of growth, and will continue to roll out stores across Australia. Dusk headquarters will remain in Perth.

HDH and its shareholders will continue to build on the success of each business in the Group, and may look to acquire other specialty retail businesses in the home and decor segment in Australasia.