Overstock Acquires Intellectual Property, Rebrands as Bed Bath & Beyond

Online retailer Overstock.com has purchased the intellectual property of bankrupt home-goods store Bed Bath & Beyond for $21.5 million. Overstock plans to rename its website, mobile app, and rewards program as Bed Bath & Beyond, starting with a rollout in Canada in July. The change will redirect US customers to bedbathandbeyond.com after the final Bed Bath & Beyond stores close in August. Overstock is also considering renaming its entire business. The acquisition gives Overstock access to customer data and the opportunity to expand its customer base, although it expects a decline in second-quarter revenue. The company plans to hire former Bed Bath & Beyond employees during the integration process.