MURRAY, Utah — Bed Bath & Beyond Inc. has signed a Letter of Intent to acquire the equity interests and substantially all assets of F9 Brands, Inc., which owns and operates Cabinets To Go, Lumber Liquidators, Gracious Home/Thos. Baker, and Southwind Building Products. 

The deal is valued at $150 million and is comprised of $37 million in cash and approximately 16 million shares of BBBY common stock at $7.00 per share, representing a transaction value of $107 million at the current market price

The news comes five days after BBBY announced the acquisition of The Container Store, a specialty retailer of storage and organization solutions for a reported $150 million. 

The April 8 purchase of F9 Brands' assets is said to represent an additional step in further "building a national, fully integrated home services platform" under Beyond Home Services. 

“With the anticipated addition of Lumber Liquidators and Cabinets To Go to Elfa and Closet Works, Beyond Home Services is established with the brands, the capabilities, and the team to serve the homeowner from concept to completion," said Marcus Lemonis, executive chairman and CEO of Bed Bath & Beyond. "Each brand owns a distinct category—modular storage systems, custom closets, flooring, cabinets and countertops, carpet and hard surface flooring distribution—and together with our installation services and field sales organization, we can take the homeowner through the full lifecycle of a renovation, all under one platform.”

Elfa, the Swedish-founded modular storage brand, and Closet Works, a Chicago-based closet company acquired in 2021 for $21.5 million, and which provides the wood-based manufacturing capabilities necessary for high-end, bespoke storage, were part of The Container Store acquisition.

In addition to the standalone Cabinets To Go and Lumber Liquidators stores, BBBY said its customers will have access to F9 Brands’ products and services through the Custom Spaces section of The Container Store/Bed Bath and Beyond stores. The company will leverage more than 2.2 million square feet of retail space to create full-service home project centers where customers can design, purchase, finance, and install complete home solutions.

Beyond Home Services will combine category leading brands across cabinets, flooring, closets, and distribution with installation services, financing solutions, and a growing retail footprint, positioning Bed Bath & Beyond to participate in larger, higher frequency home projects with increased customer lifetime value.

Jason Delves has been named the incoming CEO of Beyond Home Services and a new member of the executive leadership team at Bed Bath & Beyond (BBBY) following the acquisition of F9 Brands. As the President and CEO of F9 Brands since 2019, Delves grew the company from $145 million to $522 million in sales.