• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Little-known NJ baby retailer tentatively wins rights to Buy Buy Baby’s IP for $15.5 million
Editor's Pick

Little-known NJ baby retailer tentatively wins rights to Buy Buy Baby’s IP for $15.5 million

by July 4, 2023
by July 4, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

A little-known baby retailer based in Piscataway, New Jersey, has tentatively won the auction for the intellectual property of Bed Bath & Beyond’s crown jewel Buy Buy Baby, according to court records. 

Dream on Me Industries, which sells cribs, strollers and other baby goods through a host of retail partners, won the Wednesday auction with a bid price of $15.5 million, court records filed Friday say. The acquired assets include Buy Buy Baby’s intellectual property, business data, internet properties and mobile platform, the records say.

Wednesday’s auction was only for Buy Buy Baby’s intellectual property, after its parent company Bed Bath & Beyond decided to split up the sale process in an apparent effort to secure a higher bid price. Another auction for all of Buy Buy Baby’s assets, including its many stores, will be held July 7, the records say. 

Dream on Me’s win is only tentative. If Bed Bath & Beyond receives a higher bid at the upcoming auction, it could lose the rights to Buy Buy Baby’s intellectual property.

Everyday Health Media, a digital media company that produces health and wellness content, was selected as a backup bidder. 

More from CNBC

Tesla shares rise nearly 7% after delivery and production numbers beat expectations Bluesky experiences ‘record-high traffic’ after Elon Musk imposes rate limits on Twitter Rivian shares surge as second-quarter EV deliveries top estimates

Buy Buy Baby has long been seen as the most valuable part of its parent company’s enterprise. But the winning bid price is $6 million less than the $21.5 million Overstock.com agreed to pay for just Bed Bath & Beyond’s intellectual property in a deal that closed earlier this week.

Still, in its most recent quarterly securities filing, Bed Bath noted the intangible value of its trade names and trademarks for the entire business was just $13.4 million. The two deals combined more than double that total.

Earlier this month, an unknown bidder who was interested in keeping 75% of Buy Buy Baby’s stores open was seeking an additional $50 million in capital to shore up its proposal, CNBC previously reported. It’s not immediately clear if that bidder is still in the race, but the figure offered insight into how much bidders would need to purchase the entire Buy Buy Baby business and keep it running as a going concern.

Since it declared bankruptcy in late April, Bed Bath & Beyond has been determined to sell its assets at the highest price possible. The company has repeatedly pushed back several auctions as it worked to secure buyers. 

Interest has largely centered around Buy Buy Baby, but the sale process is increasingly uncertain after doubts grew in the days ahead of the auction about the number and size of bids, CNBC previously reported.

The company offloaded its namesake banner to Overstock.com earlier this month. The e-commerce retailer, which plans to change its website name to Bed Bath & Beyond, opted out of acquiring Bed Bath’s stores and inventories.

This post appeared first on NBC NEWS
You Might Also Like
  • 21 million Miniverse toy sets recalled after reports of burns and respiratory irritation
  • Amazon surpasses Walmart in revenue for the first time
  • ‘RFK’ing the french fries’: Steak ‘n Shake becomes a MAHA darling
  • Trump moves to develop sovereign wealth fund to ‘create value for American citizens’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Sanders taps Arkansas GOP chairman, ex-federal prosecutor, for state Supreme Court seat
next post
Sector Spotlight: Two Sectors Hitting New All-Time Closing High

You may also like

Interest rates will likely start coming down this year —...

March 7, 2024

Trader Joe’s-branded cashews sold in 16 states recalled over salmonella...

March 21, 2024

Key fed inflation gauge cools to its slowest rate in...

June 28, 2024

Mattel says Barbies and Hot Wheels could soon get more...

February 5, 2025

LEXI Introduces World’s First Universal IoT Platform

December 2, 2022

Airbus could prioritize deliveries to non-U.S. customers if Trump tariffs...

February 20, 2025

Etsy CEO says company is escaping ‘race to the bottom’...

July 10, 2024

As EV sales slow, some drivers could buy one for...

January 15, 2024

A rare high-performance Cadillac that once belonged to President Joe...

February 16, 2024

Inflation is finally slowing down, but consumers are still feeling...

June 16, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,632 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Cryptocurrency ‘pig butchering’ scam wrecks Kansas...

    August 22, 2024

    Treasury delays deadline for small businesses...

    December 27, 2024

    Amazon to lay off 9,000 more...

    March 23, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here