Bed Bath & Beyond Selling Christmas Tree Shops Brand and 2 Other Assets For $250 Million
In the latest in a series of divestments this year, Bed Bath & Beyond (NASDAQ: BBBY) is selling several of its assets. The company announced on Tuesday that it has reached agreements to unload its Christmas Tree Shops retail brand, its Linen Holdings unit, and a New Jersey distribution center. All told, these sales should bring in roughly $250 million for the specialty retailer.
The buyer in the most significant divestment, that of Christmas Tree Shops, is privately held Handil Holdings. It will receive all 80 outlets of the holiday retailer store. Part of the deal between the two companies is a transition service agreement that will kick in at the close of the transaction and "help ensure business continuity, particularly during the upcoming holiday season," according to Bed Bath & Beyond.
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