Bed Bath & Beyond Inc. Acquires Christmas Tree Shops for $200M

SOUTH YARMOUTH, MA-Bed Bath & Beyond Inc. purchased Christmas Tree Shops Inc. for approximately $200 million in an all cash acquisition. The locally headquartered privately-held retailer of giftware and household items operates 23 stores in six states, with 14 of those stores located in Massachusetts.

The stores range in size from 6,000 to 50,000 sf, with most recently opened stores averaging in the 50,000 sf range. The stores sell a broad assortment of merchandise including home decor, giftware, housewares, food, paper goods and seasonal products. In its most recently completed fiscal year, Christmas Tree Shops, Inc. net sales were approximately $370 million.

Steven H. Temares, president and CEO of Bed Bath & Beyond Inc., notes that “Christmas Tree Shops’ product mix is compelling and extremely well-priced, with a significant portion of their merchandise represented by self-developed items or opportunistic buys. There is a uniqueness to their concept that has earned strong customer allegiance. We view Christmas Tree Shops’ merchandise offerings and their knowledge base as extremely complementary to Bed Bath & Beyond’s and, as such, present the combined operations with a myriad of opportunities.”

Christmas Tree Shops also has three stores in Connecticut, two in New Hampshire, two in Rhode Island, one in Maine and one in and New York. An additional store, in Spring Valley, NY, is scheduled to open later this year.

Union, NJ-based Bed Bath & Beyond is a nationwide chain of superstores selling domestics merchandise and home furnishings. The company’s over 500 stores principally range in size from 30,000 to 50,000 sf, with some stores exceeding 80,000 sf.