US retailer spends approximately $190m in a cash deal to buy the online seller of personalised products
Bed Bath & Beyond, a US cross-category retailer, has acquired personalizationmall.com for approximately $190m.
Personalizationmall.com is an online seller of personalised products including make-up bags, candles, towels and more.
It uses methods such as sublimation, embroidery, digital printing, engraving and sandblasting to customise products for consumers and offer rapid fulfillment.
Bed Bath & Beyond already offers some personalised services through its website, but aims to expand this part of its business through the acquisition.
Steven Temares, CEO and Member of the Board of Directors of Bed Bath & Beyond, said: “We view personalisation as a significant opportunity for us to create additional differentiation and enable us to do more for and with our customers.”
Dan Randolph, Founder and President, personalizationmall.com added: “I am very proud of the work our team has done in building personalizationmall.com into a market segment leader.”
The acquisition is not expected to have a material effect on Bed Bath & Beyond’s fiscal 2016 Q3 earnings, which are scheduled to be released on 21 December.