Bed Bath & Beyond Sold Its Cost Plus World Market Brand with 243 Stores
Daniel Johnson — December 29, 2020 — Business
References: prnewswire & retaildive
Bed Bath & Beyond has entered into an agreement with a private equity firm named Kingswood Capital Management to sell its Cost Plus World Market brand.
The financial terms of the deal were not released and it will result in the sale of 243 Cost Plus World Market Stores, as well as two distribution facilities, and a corporate office in California. The deal is expected to close before the end of the fiscal year.
“We've taken deliberate steps throughout the year to streamline our portfolio and fortify our strategic focus in Home, Baby and Beauty & Wellness, and today's announcement represents the conclusion of this work," said Mark Tritton the CEO of Bed Bath and Beyond.
Image Credit: Shutterstock
The financial terms of the deal were not released and it will result in the sale of 243 Cost Plus World Market Stores, as well as two distribution facilities, and a corporate office in California. The deal is expected to close before the end of the fiscal year.
“We've taken deliberate steps throughout the year to streamline our portfolio and fortify our strategic focus in Home, Baby and Beauty & Wellness, and today's announcement represents the conclusion of this work," said Mark Tritton the CEO of Bed Bath and Beyond.
Image Credit: Shutterstock
Trend Themes
1. Consolidation of Retail Brands - The sale of Cost Plus World Market by Bed Bath & Beyond to Kingswood Capital Management reflects a trend of retail brand consolidation in the market.
2. Shift to Niche Markets - Bed Bath & Beyond's strategic focus on Home, Baby and Beauty & Wellness suggests a trend toward industry players opting for niche markets to remain competitive.
3. Expansion of Private Equity in Retail - Kingswood Capital Management's acquisition of Cost Plus World Market from Bed Bath & Beyond is indicative of a growing trend of private equity firms investing in the retail industry.
Industry Implications
1. Retail Industry - The sale of Cost Plus World Market by Bed Bath & Beyond highlights current challenges and opportunities for retailers to remain competitive in the market.
2. Private Equity Industry - The acquisition of Cost Plus World Market by Kingswood Capital Management demonstrates the potential for private equity firms to identify and invest in viable opportunities in the retail industry.
3. Home Goods Industry - Bed Bath & Beyond's strategic focus on the home goods market suggests potential for disruptive innovation opportunities in specialty retailers who can cater to this niche market more effectively than larger retailers.
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