Bed Bath & Beyond announced an agreement to sell its institutional Linen Holdings business in addition to selling the company’s Florence NJ distribution center and Christmas Tree Shops, according to a news release.
The company has entered into an agreement to sell its Linen Holdings business to The Linen Group, LLC, an affiliate of Lion Equity Partners. Linen Holdings will be merged with Riegel Linen, an existing Lion Equity portfolio company.
Linen Holdings provides a broad selection of quality linen, terry, amenities, case goods and apparel to world-class businesses in the global hospitality and healthcare industries.
The sale of Linen Holdings is expected to close in October 2020, subject to customary closing conditions.
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