Bed Bath & Beyond to Buy F9 Brands for $150M

Bed Bath & Beyond has signed a letter of intent to acquire “the equity interests and substantially all assets” of F9 Brands Inc., the owner and operator of Cabinets To Go and Lumber Liquidators. The purchase price is about $150 million.

The deal consideration includes $37 million in cash and about 16 million shares of Bed Bath & Beyond common stock at $7 per share. F9 Brands President and CEO Jason Delves is expected to lead “Beyond Home Services,” which will include storage, closets, cabinets, flooring, installation, renovation, and distribution. The transaction is expected to close after Bed Bath & Beyond’s annual meeting in May, subject to customary closing conditions.