Bed Bath & Beyond Buying Home Furnishing Retailer One Kings Lane

Bed Bath & Beyond is apparently looking to grow, well, beyond its big box status, as it went shopping for a furniture and decor company and wound up scooping up home retailer One Kings Lane.

Without revealing the price tag on the deal, BB&B said it paid for its new purchase all in cash, calling the sum “not material” to the company’s finances in a statement, adding that the acquisition would be only “slightly dilutive” to its net earnings.

This “not material” price is a far cry from the $1 billion valuation of One Kings Lane during a 2014 funding round, CNBC points out.

BB&B says One Kings Lane — “an authority in home décor and design that offers a unique collection of select home goods, designer, and vintage items” that also offers interior design services out of studios in New York and San Francisco, will “serve as a cornerstone for Bed Bath & Beyond’s growing offerings in furniture and home décor.”

“We have followed One Kings Lane and loved its site since its inception,” said Steven Temares, Bed Bath & Beyond’s CEO, in a statement. “We are thrilled for the opportunity to provide them with additional support and exposure to promote and grow their brand.”

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