Bed Bath & Beyond Acquires PersonalizationMall.com for $190M
To help it expand into the sale of personalized goods, Bed Bath & Beyond has acquired online retailer PersonalizationMall.com for around $190 million. Bed Bath & Beyond sees an opportunity to sell items to commemorate events like weddings, birthdays and holidays, and this acquisition figures to help with those efforts. PMall.com sells products such as personalized mugs, doormats and Christmas stockings.
Total Retail's Take: Bed Bath & Beyond is spending to help strengthen its e-commerce business. First the home goods retailer acquired online retailer One Kings Lane earlier this year, and now this latest acquisition of PersonalizationMall.com represents a new business opportunity as well. Bed Bath & Beyond has been challenged by declining sales and profits as of late, and is looking outside its business for potential growth opportunities. If the first couple days of the holiday shopping season are any indication, looking online for that growth is a smart strategy.