UNION, N.J. — Bed Bath & Beyond has expanded its business with the all cash acquisition of Linen Holdings, LLC for approximately $105 million. Based in Gibbsboro, New Jersey, Linen Holdings LLC is a privately-held, value-added distributor of bath, bed and table linens, other textile products and amenities to customers in the hospitality, cruise line, food service, health care and other industries.
Steven Temares, CEO and member of the board of directors of Bed Bath & Beyond Inc., stated, "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."
According to the company, the acquisition took place after the close of its first quarter and will not affect the results.