Bed Bath & Beyond has entered into an agreement with a private equity firm named Kingswood Capital Management to sell its Cost Plus World Market brand.
The financial terms of the deal were not released and it will result in the sale of 243 Cost Plus World Market Stores, as well as two distribution facilities, and a corporate office in California. The deal is expected to close before the end of the fiscal year.
“We've taken deliberate steps throughout the year to streamline our portfolio and fortify our strategic focus in Home, Baby and Beauty & Wellness, and today's announcement represents the conclusion of this work," said Mark Tritton the CEO of Bed Bath and Beyond.
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