Union, N.J. — Bed Bath & Beyond Inc. has completed the sale of Cost Plus World Market to Kingswood Capital Management, a Los Angeles-based private equity firm. Both companies have agreed to a transition services agreement following the close of the transaction to help ensure business continuity.
“The completion of this transaction marks the conclusion of our work to streamline our portfolio,” says Mark Tritton, president and CEO Bed Bath & Beyond. “These efforts will help fund our transformation and put us in the position to start fiscal 2021 with a more cohesive set of core businesses in Home, Baby, Beauty & Wellness. We remain committed to driving sales and margin growth, generating cash and investing in our business plan to drive shareholder value.”
Advisors to Bed Bath & Beyond on this transaction included B. Riley Securities Inc. and Bryan Cave Leighton Paisner LLP.
Bed Bath & Beyond Inc. and subsidiaries is an omnichannel retailer that sells a wide assortment of merchandise in the Home, Baby, Beauty and Wellness markets.
SOURCE: Bed Bath & Beyond Inc.