Bed Bath & Beyond completes Brand House Collective deal
BRENTWOOD, Tenn. — On the same day it announced its acquisition of The Container Store, Bed Bath & Beyond Inc. closed on its merger with The Brand House Collective (TBHC), making it a wholly owned subsidiary.
The transaction was completed through a merger in which Knight Merger Sub II, a subsidiary of Bed Bath & Beyond, merged with TBHC. TBHC is the rebranded entity operating Kirkland’s Inc., a home furnishings retailer operating nearly 300 Kirkland’s Home stores.
See also: Container Store acquisition “critical” step for Bed Bath & Beyond
As part of the deal, Bed Bath & Beyond is contributing $30 million in capital to TBHC for general corporate purposes, including repayment of a portion of its outstanding debt to Bank of America.
TBHC stock, which was traded on Nasdaq, has been suspended, and the company has asked to be delisted from the exchange. Shares of TBHC common stock were converted to the right to receive 0.1993 shares of Bed Bath & Beyond stock. Stockholders are entitled to cash payment for fractional shares.
See also: Brand House Collective sees Q3 sales fall as it transitions from Kirkland’s to Bed Bath & Beyond
