Beyond Snaps Up Buy Buy Baby Brand For $5 Million: Details

Shares of online retailer Beyond, Inc. BYON are trading lower on Monday.

The parent company of Bed Bath & Beyond and Overstock, has acquired the global rights to the Buy Buy Baby brand.

The deal, worth $5 million, encompasses assets like intellectual property, vendor relationships, and domain names. Beyond has signed an Asset Purchase Agreement with BBBY Acquisition Co. LLC for the transaction.

The acquisition aligns with Beyond’s larger strategy to enhance its portfolio and explore new methods for asset management.

“Our goal is to go beyond the traditional omnichannel mindset, focusing on the four corners of the property, and the four walls of the home. It is our objective to help homeowners enhance, protect, and unlock the value of their most important assets and information related to their homes and lives,” said Executive Chairman Marcus Lemonis.

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The company said Kirkland’s will have full flexibility, from integrating Buy Buy Baby into Bed Bath & Beyond stores, to opening standalone locations under each legacy banner.

Beyond is also considering the tokenization of Buy Buy Baby’s intellectual property as part of its growth strategy. In collaboration with tZERO, the company is exploring the possibility of offering a digital dividend and a revenue-sharing token.

A central component of the acquisition is the development of the “LifeChain.” Beyond plans to utilize tZERO’s blockchain technology to monitor major life events, including birth, education, and purchases.

The LifeChain will consolidate these records into a secure digital wallet, backed by Salesforce and its Agentforce technology.

“We are leveraging our belief in the evolution of tokenizing assets and the critical importance of securing data related to your home and life,” added Lemonis.

The company held $140.4 million in cash and equivalents as of September 30, 2024.

Price Action: BYON shares are trading lower by 3.26% at $8.01 on the last check Monday.

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Photo via Shutterstock.