Bed Bath & Beyond buys Linen Holdings in all cash-transaction
Union, N.J. — Bed Bath & Beyond Inc. bought textile distributor Linen Holdings LLC in an all-cash transaction for approximately $105 million to boost its sourcing capabilities and gain access to new customers.
Based in Gibbsboro, N.J., 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, health care and other industries.
Most recently, Bed Bath & Beyond’s agreed to buy Cost Plus Inc. for about $495 million, also aimed at boosting its sourcing capabilities and customer base.
Sports Authority gets into loyalty game
ENGLEWOOD, Colo. — Sports Authority has launched its first-ever customer loyalty program, The League, which offers members 5% back on their total point balances of 100 points or more earned quarterly.
Customers can sign up for free in-store or online to enjoy exclusive cost-saving benefits for every dollar spent. Members of The League receive one point for every dollar spent on qualifying purchases at Sports Authority or S.A. Elite by Sports Authority. Those who accumulate 100 points or more during the quarterly earning period will receive 5% back on their total point balance in the form of a reward to use on all in-store merchandise. Rewards are issued to qualifying members and can be redeemed within 60 days of issuance.
“We are excited about the national launch of The League, Sports Authority’s new Rewards program. The League offers industry-leading benefits for our customers and reinforces our commitment to providing great value, along with an outstanding selection of top sporting goods brands,” said Darrell Webb, president and CEO of Sports Authority.
The League members will also receive additional benefits including bonus point opportunities to help members qualify for rewards faster, member-only in-store events, special surprises and delights, such as a Birthday Reward to use the month of your birthday, and much more. Every member that enrolls will receive a $5 Welcome Reward email just for signing up – no purchase necessary.
Bed, Bath & Beyond buys Linen Holdings
UNION, N.J. — Bed Bath & Beyond has expanded its business with 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, health care and other industries.
Steven Temares, CEO and member of the board of directors of Bed Bath & Beyond Inc., stated, "We are very excited to add the talented Linen Holdings team members and their sourcing and sales expertise to our existing operations. We look forward to the opportunity to support and augment the offerings provided by Linen Holdings, LLC to its current and prospective customers."
According to the company, the acquisition took place after the close of its first quarter and will not affect the results.