Phoenix home-care textile company Phoenix Home Care will acquire Phoenician Home Care in a $15.3 million deal, the company said.
The deal, which includes a $3 million cash payment, is subject to regulatory approvals and is expected to close in the second quarter of 2020, the companies said.
In addition to Phoenix Homecare, Phoenisans home-wear company will also acquire the home-equity-investment firm, a source with knowledge of the deal said.
Phoenix Home Care, which manufactures home-printing, is based in Arizona.
It has been a pioneer in home-design, with brands like the Phoeniads Home, Homeboy, and Homemaker.
Phoeniad Home, which was founded in 1978, has made its mark in home furnishings with designs like the Pueblo, Homegirl, and home decor items.
Phoners apparel line, which has more than 30 brands, has also been a popular choice for celebrities, with the likes of Justin Bieber, Rihanna, and Jennifer Aniston among its endorsers.
The company has also grown into a provider of home goods to businesses and institutions, with offices in New York, Los Angeles, Philadelphia, Washington, D.C., and Washington, DC.
The company employs more than 300 people.