Bed Bath & Beyond Acquires Linen Holdings
UNION, N.J.-Bed Bath & Beyond has swung an all-cash deal to purchase Linen Holdings, a supplier of textiles and other products to the hospitality, cruise-line, food-service, health-care and other industries.
The purchase price is about $105 million, according to a statement from Bed Bath & Beyond. Steven Temares, the company's CEO, said the acquisition adds Linen Holdings' "sourcing and sales expertise" to Bed Bath & Beyond's operations. "We look forward to the opportunity to support and augment the offerings provided by Linen Holdings, LLC, to its current and prospective customers," Temares said.
This is Bed Bath & Beyond's second acquisition in a month. In early May, the retailer announced its agreement to purchase Cost Plus, the specialty retailer of casual home furnishings and entertainment products, in another all-cash deal valued at about $500 million.