Bed Bath & Beyond Sells PersonalizationMall.com Business To 1-800-FLOWERS.COM

(RTTNews) - Bed Bath & Beyond Inc. (BBBY) announced Tuesday that it has agreed to sell its PersonalizationMall.com business to 1-800-FLOWERS.COM, Inc. (FLWS) for $252 million, subject to certain working capital and other adjustments.

This transaction is another important step towards simplifying Bed Bath & Beyond's portfolio and deepening its focus on its core Home, Baby and Beauty businesses. It will also accelerate the company's ongoing business transformation and its efforts to re-establish Bed Bath & Beyond's authority in the Home space.

Following the closing of the transaction, PersonalizationMall.com will continue to provide product and personalization services to Bed Bath & Beyond and buybuy BABY. The transaction is expected to close during the Company's fiscal 2020 first quarter.

The closing of the transaction is subject to customary closing conditions, including, among others, the expiration or termination of the applicable waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976.