Bed Bath & Beyond buys PersonalizationMall.com for about $190M in cash
Bed Bath & Beyond announced that it has acquired PersonalizationMall.com, PMall.com, an industry-leading online retailer of personalized products based in Burr Ridge, Illinois, for approximately $190M in cash, which reflects certain closing adjustments. Bed Bath & Beyond remains focused on its mission to do more for and with its customers and to be viewed as the expert for the home, and to become the destination for customers' needs and wants as they express their life interests and travel through their life stages; all through the expanding and differentiated products, services and solutions the Company offers. 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. 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 ending on November 26, 2016. The Company's fiscal 2016 third quarter results are scheduled to be reported on December 21, 2016.