Bed Bath & Beyond (BBBY) Buys Linen Holdings for $105M in Cash

June 1, 2012 4:17 PM EDT
Bed Bath & Beyond Inc. (Nasdaq: BBBY) today announced 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, healthcare and other industries.

The acquisition of Linen Holdings, LLC will have no effect on the results for Bed Bath & Beyond Inc.'s fiscal first quarter ended May 26, 2012 since the transaction occurred during the fiscal second quarter of 2012. The Company believes the benefit of this acquisition will not have a material effect on the overall results or financial condition of Bed Bath & Beyond Inc. for fiscal 2012. Bed Bath & Beyond Inc. also continues to model completion of its current share repurchase authorization by the end of fiscal 2012, which may be influenced by several factors, including business and market conditions.

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