Sears parent buying Sears Hometown, Outlet stores

The parent company of Sears, controlled by former Sears CEO Eddie Lampert, is buying the rest of Sears Hometown and Outlet Stores Inc. that it doesn't already own and reuniting the business with the Sears and Kmart stores.

Sears Hometown was spun off from Sears Holdings Corp., the former parent company of Sears and Kmart, in 2012.

According to online store list, Sears Hometown has 10 stores in Indiana, but only one in the Indianapolis area: at 1244 W. Main St. in Greenfield.

Transform Holdco LLC said Monday that it will pay $2.25 per share, a 3.2% premium to Friday's closing price. ESL Investments Inc. and its affiliates, the majority owners of Transform, currently hold 58% of Sears Hometown's outstanding stock.

Under the deal, Sears Hometown can sell its Sears Outlet and Buddy's Home Furnishing Stores businesses (together, the "Outlet Segment") to a third party for not less than $97.5 million. The going-private transaction is targeted to close in the third quarter.

The only Sears Outlet store in Indiana is at 6022 Crawfordsville Road in Speedway.

There are no Sears department stores remaining in Indiana, and the only Kmart in the Indianapolis area is in Elwood.

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