Private-equity firm Kingswood Capital Management has agreed to purchase Cost Plus World Market (CPWM) from Bed Bath & Beyond Inc.
CPWM will continue to operate as a stand-alone retail brand. Los Angeles-based Kingswood focuses on lower-middle market businesses in retail, industrials, energy, technology, government and healthcare services. The sale is part of BBBY’s strategy to divest its non-core businesses and focus on home, baby, beauty and wellness products, according to BBBY President and CEO Mark Tritton.
B. Riley Securities Inc. provided financial advice and Bryan Cave provided legal counsel to BBBY on this deal.