Overstock Acquires Bed Bath & Beyond Assets, Rebranded Website Launching

Overview

• Overstock.com purchased Bed Bath & Beyond's intellectual property and digital assets for $21.5 million through a bankruptcy auction.
• Overstock will relaunch Bed Bath & Beyond's website under its own name in Canada next month and the U.S. in August.
• Overstock's mobile app and rewards program will also be rebranded as Bed Bath & Beyond.
• The acquisition does not include Bed Bath & Beyond's stores, which are closing, or its Buy Buy Baby subsidiary.
• Overstock hopes that operating under the well-known Bed Bath & Beyond name will boost its sales, which have declined recently.