Bed Bath & Beyond is selling Christmas Tree Shops and other assets as the retailer continues to simplify its corporate portfolio.
The off-loading of the 80-store Christmas Tree Shops to Handil Holdings, LLC, includes all stores and a distribution center located in Middleborough, Mass. The deal is expected to close in November.
In addition, Bed Bath & Beyond is also selling institutional Linen Holdings business and a distribution center located in Florence, NJ. The company expects to generate a total of approximately $250 million in aggregate from the sale.
“Today’s announcement builds on the purposeful steps we have made throughout the year to simplify our portfolio, unlock capital and create clear strategic focus to accelerate our plans to build our authority in the Home, Baby, Beauty and Wellness markets,” said Mark Tritton, president/CEO with Bed Bath & Beyond.