Union-based home furnishings retailer Bed Bath & Beyond Inc. announced it bought Linen Holdings LLC, in Gibbsboro, for approximately $105 million in cash on Friday — its second acquisition in four weeks.
According to Bed Bath & Beyond CEO Steven H. Temares, the deal will expand the company’s sourcing and sales capabilities, and grow its customer base in the hospitality, cruise line, food service and health care industries.
The retailer will operate a total of 1,432 locations nationwide when it closes its previously announced acquisition of discount chain Cost Plus Inc. for $495 million in cash — its largest acquisition to date.
Linen Holdings, a textile product distributor, currently employs less than 200 people between its two offices, in Gibbsboro and Miami.
Bed Bath & Beyond said the transaction closed after its first quarter ended May 26, and will not affect the company’s financial condition for fiscal 2012. The retailer will release its first-quarter results June 20.