“With the recent acquisition of buybuy Baby, we want our team laser-focused on our core brands as we march towards profitability.”
Alex Thomas, chief operating officer of Beyond, added: “This sale reflects our commitment to resource optimization, our mandate to deliver profits for our home and family-centric brands, and a focus on our largest growth opportunities as a company.”
The deal follows recent changes the company made to drive profitability, including partnering with Kirkland to reintroduce Bed, Bath & Beyond brick-and-mortar stores in a smaller format with a $25 million investment.
Additionally, the company acquired Buy Buy Baby in February for $5 million, adding to its portfolio, which includes Bed Bath & Beyond and Overstock.
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