Bed Bath & Beyond has acquired PersonalizationMall.com (PMall.com), an online retailer of personalized products based in Burr Ridge, Illinois, for approximately $190 million in cash.
PMall.com offers personalization services including sublimation, embroidery, digital printing, engraving and sandblasting on a host of products to meet a customers specific need, Bed Bath & Beyond said.
The acquisition of PMall.com expands Bed Bath & Beyond’s existing assortment in the growing product personalization category and brings a complementary portfolio of differentiated products that commemorate all of life’s events and special occasions such as weddings, birthdays, holidays and the welcoming of a child, officials with the retailer said.
“PersonalizationMall.com has built a tremendous business, and we are excited to support them as they advance their industry-leading position within the growing category of product personalization,” said Steven Temares, CEO of Bed Bath & Beyond. “As we have said previously, we view personalization as a significant opportunity for us to create additional differentiation and enable us to do more for and with our customers.”
Bed Bath & Beyond funded the transaction using cash on hand, and expects the acquisition to be slightly accretive to its net earnings per diluted share for fiscal 2016. The acquisition of PMall.com is not anticipated to have a material effect on Bed Bath & Beyond’s fiscal 2016 third quarter ending on November 26, 2016.