Bed Bath & Beyond has announced this month that it would be acquiring Linen Holdings, LLC for nearly $105 million in all cash as a way to monopolize on their linen-based products.
Bed Bath & Beyond Inc. is a chain of domestic merchandise retail stores across the United States, Puerto Rico and Canada, that was formed in 1971. It is a brand that sells a massive assortment of house-related products, like bath and kitchen items, basic housewares, tabletop items such as dishes, bed linens and spreads, and general home furnishings.
According to the Franchise Herald, the company stated that the acquisition of Linen Holdings will not factor into its 2012 fiscal year in terms of finances and profits, and that it will not have a "material effect on the overall results or financial conditions," as stated in a press release issued by Bed Bath & Beyond
Steven H. Temares, Chief Executive Officer and Member of the Board of Directors of Bed Bath & Beyond Inc., stated in a press release, "We are very excited to add the talented Linen Holdings team members and their sourcing and sales expertise to our existing operations. We look forward to the opportunity to support and augment the offerings provided by Linen Holdings, LLC to its current and prospective customers."
