Wednesday, June 15, 2016

Bed Bath & Beyond buys online retailer One Kings Lane in all-cash deal

Image result for bed bath & beyondBed Bath & Beyond, a publicly traded retailer with more than 1,500 physical stores, today announced that it has acquired One Kings Lane, an online retailer that sells home goods, in an all-cash deal. Terms of the deal weren’t disclosed, but Bed Bath & Beyond said the deal was not material.

Early in its life, One Kings Lane was known primarily as a flash sale site, but it has since expanded beyond that focus. Gilt Groupe, another online retailer that distinguished itself with flash sales, recently was sold to Hudson’s Bay for $250 million. In January Recode reported that One Kings Lane was in a position to be sold for $150 million or less. Today One Kings Lane’s competitors include Chairish, Houzz, and Wayfair.. . . more

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