Beyond Inc. buys Buy Buy Baby, reunites it with Bed Bath & Beyond
Salt Lake City-based Beyond Inc., owner of the Bed Bath & Beyond and Overstock brands, has announced that it has entered into an asset purchase agreement with BBBY Acquisition Co. LLC to acquire the global rights of the Buy Buy Baby brand. The purchase price of $5 million includes assets, databases, domains, intellectual property, vendor relationships and content related to Buy Buy Baby, Beyond said in a release.
“Bed Bath & Beyond and Buy Buy Baby have historically been synonymous with supporting families, their homes and all of life’s milestones,” said Marcus Lemonis, executive chairman of Beyond. “Our goal is to go beyond the traditional omnichannel mindset, focusing on the four corners of the property, and the four walls of the home. It is our objective to help homeowners enhance, protect and unlock the value of their most important assets and information related to their homes and lives.”
“This acquisition, combined with Beyond’s existing portfolio of assets and investments, drives us toward our mandate of operating a profitable company focused on traditional revenue and earnings growth. We are leveraging our belief in the evolution of tokenizing assets and the critical importance of securing data related to your home and life,” added Lemonis.