Bed Bath & Beyond Locations: Acquire Linen Holdings for $105 Million

By Zanub Saeed

Bed Bath & Beyond announced this month that it would be acquiring Linen Holdings, LLC for nearly $105 million in all cash as a means to monopolize on their linen-based products.

Linen Holdings, according to a press release issued by Bed Bath & Beyond Inc. on June 1^st, is a private company that distributed bath, bed, and table linens, as well as other textile products and amenities for consumers in the hospitality, cruise line, food service, and healthcare businesses. The linen company is based out of Gibbsboro, N.J.

Steven H. Temares, Chief Executive Officer and Member of the Board of Directors of Bed Bath & Beyond Inc., stated for the 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."

Bed Bath and Beyond will be hosting a conference call this coming Wednesday, June 20^th, at 5:00pm EST after they have released their financial results for the 2012 first fiscal quarter, said the press release. For those interested, they can listen into the call by dialing 1-800-281-7973; a rebroadcast of the conference call will take place starting at 6:30 on Wednesday.

The company also 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," stated the press release, for the home supplies corporation for 2012. As a result, the acquisition of Linen Holdings will not make a difference to the results of the 2012 fiscal first quarter, which, according to the press release, ended on May 26, 2012.

Bed Bath & Beyond is a nationwide brand that sells a massive assortment of house-related products, such as bath and kitchen items, basic housewares, tabletop items like dishes, bed linens and spreads, and general home furnishings, said the press release.