WACO, Texas (KXAN) — Magnolia home and lifestyle brand founders Chip and Joanna Gaines are “exploring options including the sale of a minority stake” in the business, according to reporting from Bloomberg.
The Gaines founded the Waco-based company back in 2003 and are reported to have received interest from some suitors, per Bloomberg. That includes strategic partners as well as financial institutions, with the couple in the early stage of “evaluating its options.”
Bloomberg reports it’s unknown at this time how much Magnolia could be valued at, adding there’s no guarantee a stake sale will take place. A representative for the Gaines declined to comment, Bloomberg reporters said.
The business includes both physical and e-commerce furniture store, a retail partnership with Target called Hearth & Hand, vacation rentals, real estate listings and the quarterly magazine, Magnolia Journal.
The couple first rose to prominence in 2013 on HGTV. They’ve since partnered in a joint-venture with Warner Bros. Discovery Inc. to create the Magnolia Network, including “Fixer Upper: Welcome Home” episodes and a cooking show hosted by Joanna, per Bloomberg.