US' Bed Bath & Beyond acquires Kirkland's Home brand for $10 mn

The move accelerates the companies’ national store conversion strategy, converting Kirkland’s Home locations into Bed Bath & Beyond stores to drive a larger national footprint, greater operating efficiencies, and underscoring our conviction in the power of omni-channel.

The companies will expand Kirkland’s Home into the wholesale market, extending the brand’s nearly 60-year legacy in seasonal home décor and furnishings to independent retailers nationwide and creating a new, recurring revenue stream.

Bed Bath & Beyond, Inc. will continue to receive the same collaboration fee as in the existing arrangement, now broadened to include revenue from the wholesale channel.

“The excitement around the Bed Bath & Beyond brand has been undeniable with the first of many store conversions,” said Marcus Lemonis, Executive Chairman of Bed Bath & Beyond, Inc. “This early success reinforces our conviction in the strategy and our commitment to accelerate the rollout nationwide. Kirkland’s Home design and product development will expand through both Bed Bath & Beyond Home stores and the wholesale market, and I have full confidence in Amy Sullivan and her team to drive this growth.”

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ALCHEMPro News Desk (RM)