Home décor retailer Kirkland’s has finalized a $25 million investment partnership with Beyond, the parent company of Bed Bath & Beyond, Overstock, Zulily, and BuyBuy Baby.
During a special shareholder meeting in February 2025, 97% of Kirkland’s shareholders voted in favor of issuing common stock shares as part of the agreement with Beyond.
Additionally, Beyond completed an $8 million purchase of Kirkland’s equity, converting an $8.5 million term loan into common stock.
Following the deal, Beyond has invested $25 million of capital into Kirkland’s and owns approximately 40% of the home décor retailer’s outstanding shares.
Amy Sullivan, Kirkland’s CEO, said: “Today marks a pivotal moment for Kirkland’s, as the completion of this transaction and ongoing value of our strategic partnership with Beyond begin to unlock new drivers of transformation following our efforts over the past year focused on revitalizing the Kirkland’s brand.
“As we look ahead, together with the Beyond team, we will continue to leverage Kirkland’s core strengths, including our merchandising, store operations, and supply chain expertise and infrastructure, to build a cohesive omnichannel strategy for Beyond’s portfolio of iconic brands.”
Kirkland’s and Beyond plan to fortify the Bed Bath & Beyond business by reintroducing physical store locations, with Kirkland’s as the exclusive brick-and-mortar operator and licensee.
The company plans to relaunch smaller locations nationwide and expects to open five stores in 2025.
Marcus Lemonis, executive chairman of Beyond added: “An omnichannel approach to Bed Bath & Beyond is quintessential to its success.
“We understand that retail is both an art and a science and have vetted the management team and infrastructure of Kirkland’s Home as an ideal organization to help bring the iconic Bed Bath & Beyond brand back.
“The key to retail is efficiency in assortment, space management, sourcing, and merchandising, all while recognizing that smaller, tighter footprints with significantly lower fixed-cost models are a winning recipe.”
In 2023, Bed Bath & Beyond filed for bankruptcy after struggling to stay afloat amid debts and increasing market competition.
The partnership and new neighborhood-format stores are a strategic move to enhance business growth following Bed Bath & Beyond’s temporary closure.
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