UNION, N.J.—Mattress Bathtub & Past is promoting its Christmas Tree Shops nameplate, its institutional Linen Holdings enterprise and a New Jersey distribution heart in separate agreements, the specialty retailer introduced this afternoon. The deal is anticipated to generate roughly $250 million, the corporate stated.
Christmas Tree Outlets is being bought to Handil Holdings, LLC. The settlement contains all 80 brick-and-mortar Christmas Tree Store places and a Middleborough, Mass., distribution heart. Handil plans to proceed working the chain as a stand-alone retail model, Mattress Bathtub stated. The transaction is anticipated to shut in November, topic to customary closing circumstances.
Linen Holdings, a hospitality and healthcare enterprise, is being bought to The Linen Group, LLC, an affiliate of Lion Fairness Companions. Linen Holdings will merge with Riegel Linen, an present Lion Fairness portfolio firm. The sale of Linen Holdings is anticipated to shut on this month, topic to customary closing circumstances.
Mattress Bathtub’s distribution heart in Florence, N.J., is being bought to an institutional purchaser. Mattress Bathtub stated it has signed a lease settlement with the client, which it didn’t title, to proceed operations and supply enterprise continuity throughout a transition interval. That deal can be anticipated to shut this month.
The extra sale of “non-core belongings” might be within the works as the corporate continues to optimize its portfolio, Mattress Bathtub stated.
“At the moment’s announcement builds on the purposeful steps we’ve got made all year long to simplify our portfolio, unlock capital and create clear strategic focus to speed up our plans to construct our authority within the house, child, magnificence and wellness markets,” stated CEO Mark Tritton. “Clients are responding effectively to the introduction of our new omni-always companies, and we’ll proceed to spend money on our digital-first expertise with a customer-inspired assortment that makes it simple to really feel at house with Mattress Bathtub & Past.”
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