Bed Bath & Beyond Inc. (BBBY: Quote) said Friday that it has acquired Linen Holdings, LLC today announced for about $105 million in cash.
Based in Gibbsboro, New Jersey, Linen Holdings is a privately-held, value-added distributor of bath, bed and table linens, other textile products and amenities to customers in the hospitality, cruise line, food service, healthcare and other industries.
Bed Bath & Beyond said the acquisition of Linen Holdings will have no effect on results for its fiscal first quarter ended May 26 since the deal occurred during the fiscal second quarter.
The company believes the benefit of this acquisition will not have a material effect on the overall results or financial condition of Bed Bath & Beyond for fiscal 2012.
Bed Bath & Beyond also said it continues to model completion of its current share repurchase authorization by the end of fiscal 2012, which may be influenced by several factors, including business and market conditions.
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by RTT Staff Writer
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