Murray, Utah — Beyond, Inc., owner of Bed Bath & Beyond and Overstock, has entered into an Asset Purchase Agreement with BBBY Acquisition Co. LLC to acquire the global rights of the Buy Buy Baby brand. The purchase price of $5 million includes certain assets, databases, domains, intellectual property, vendor relationships and content related to Buy Buy Baby.
“Bed Bath & Beyond and Buy Buy Baby have historically been synonymous with supporting families, their homes and all of life’s milestones,” says Marcus Lemonis, executive chairman of Beyond. “Our goal is to go beyond the traditional omnichannel mindset, focusing on the four corners of the property, and the four walls of the home.”
According to Lemonis, Beyond’s objective to help homeowners enhance, protect and unlock the value of their most important assets and information related to their homes and lives.
One strategic driver of this transaction involves strengthening the Beyond portfolio alongside its omnichannel partner, Kirkland’s. Beyond collectively believes the Buy Buy Baby brand has a strong future both online and in brick-and-mortar; Kirkland’s will have full flexibility, from integrating Buy Buy Baby into Bed Bath & Beyond stores, to opening standalone locations under each legacy banner. The Buy Buy Baby in-store experience will be a destination for parents, offering curated selections of the best brands for every stage of childhood.
“This acquisition, combined with Beyond’s existing portfolio of assets and investments, drives us toward our mandate of operating a profitable company focused on traditional revenue and earnings growth,” Lemonis says.
Beyond, Inc., based in Murray, Utah, is an e-commerce focused affinity company that owns or has ownership interests in various retail brands. The company currently owns Bed Bath & Beyond, Overstock, Zulily and other related brands and websites. For more information, visit www.Beyond.com.
SOURCE: Beyond, Inc.