Bed Bath & Beyond completes $10 million purchase of Kirkland’s Home brand

Bed Bath & Beyond Inc. announced that it completed a deal that would accelerate the creation of new locations.

The company said in a Sept. 15 news release that a $10 million purchase of the Kirkland’s Home name and other brand assets from The Brand House Collective had been completed.

“The move accelerates the companies’ national store conversion strategy, converting Kirkland’s Home locations into Bed Bath & Beyond stores,” Bed Bath & Beyond Inc. said in a statement, adding that the companies will “expand Kirkland’s Home into the wholesale market, extending the brand’s nearly 60-year legacy in seasonal home décor and furnishings to independent retailers nationwide and creating a new, recurring revenue stream.”

The company did not specify which Kirkland’s Home locations would be converted into Bed Bath & Beyond stores. A request for those locations from USA TODAY did not receive an immediate response.

“The excitement around the Bed Bath & Beyond brand has been undeniable with the first of many store conversions,” said Marcus Lemonis, executive chairman of Bed Bath & Beyond, Inc., in the release.

Kirkland’s Home will also expand into the wholesale market, according to the release.

Bed Bath & Beyond is attempting to make a comeback after filing for bankruptcy and closing all its stores in 2023. It reopened its first Bed Bath & Beyond Home near Nashville on Aug. 8.

Lemonis said in August that the company would not open a brick-and-mortar location in California. Lemonis said that the state, home to over 39 million people, will be served solely through delivery.

“After their bankruptcy and closure of every store, like most Americans, we thought Bed, Bath & Beyond no longer existed,” California Gov. Gavin Newsom’s press office said in response to the announcement on X. “We wish them well in their efforts to become relevant again as they try to open a 2nd store.”

Lemonis replied to a post from Newsom‘s personal X account, proposing pro-business reforms for California..

“We will target opening 300 small to midsize neighborhood stores thru [sic] our Kirklands investment,” Lemonsis wrote. “You are a smart man and I know the post below is out of frustration.”

This article originally appeared on USA TODAY: Bed Bath & Beyond completes purchase of Kirkland’s Home brand