The retailer has acquired PersonalizationMall.com (PMall.com), an online retailer of personalized products based in Burr Ridge, Ill., for approximately $190 million in cash, which reflects certain closing adjustments.
Bed Bath & Beyond said the acquisition of PMall.com expands the company’s existing assortment in the growing product personalization category and brings a complementary portfolio of differentiated products that commemorate all of life’s events and special occasions such as weddings, birthdays, holidays and the welcoming of a child.
“We are delighted to welcome PersonalizationMall.com to Bed Bath & Beyond. They have built a tremendous business, and we are excited to support them as they advance their industry-leading position within the growing category of product personalization,” stated Steven H. Temares, CEO and member of the board of directors of Bed Bath & Beyond Inc.
Bed Bath & Beyond funded the transaction using cash on hand, and expects the acquisition to be slightly accretive to its net earnings per diluted share for fiscal 2016. The acquisition of PMall.com is not anticipated to have a material effect on Bed Bath & Beyond’s fiscal 2016 third quarter. The company’s fiscal 2016 third quarter results are scheduled to be reported on Dec. 21…