Bed Bath & Beyond Inc. (Nasdaq: BBBY) has sold the Christmas Tree Shops brand, the Linen Holdings business, along with a distribution center located in Florence, N.J. for $250 million.
Handil Holdings is the buyer for Christmas Tree Shops and the Linen Group LLC, an affiliate of Lion Equity Partners, bought Linen Holdings.
Bed bath says it will continue to assess its portfolio and will consider selling more non-core assets. “The timely completion of these transactions represents another important milestone in our comprehensive plan to simplify our portfolio, unlock the potential of our business and extend our authority in the home, baby, beauty and wellness markets,” says Bed Bath CEO Mark Tritton. “We will continue to optimize our portfolio, including the potential sale of additional non-core assets.”
Earlier in 2020, Bed Bath sold sold PersonalizationMall.com, a online retailer of personalized products, to 1-800-FLOWERS.COM Inc. (Nasdaq: FLWS) for $252 million.