Bed Bath buys Linen Holdings for $105 million
NEW YORK (Reuters) - U.S. home goods chain Bed Bath & Beyond Inc (BBBY.O) bought textile distributor Linen Holdings LLC for about $105 million cash to boost its sourcing capabilities and gain access to new customers.
The news came just weeks after Bed Bath agreed to buy Cost Plus Inc CPWM.O for about $495 million, also aimed at boosting its sourcing capabilities and customer base.
Gibbsboro, New Jersey-based Linen Holdings is a privately held distributor of bath, bed and table linens and other textile products to customers in the hospitality, cruise line, food service, healthcare and other industries.
The latest deal will not have a material effect on Bed Bath's 2012 results, the Union, New Jersey-based company said in a statement on Friday.