Bed Bath & Beyond to sell Cost Plus chain to private equity

Bed Bath & Beyond Inc. agreed to sell Cost Plus World Market, bringing in fresh capital as the home-goods retailer hones its focus on a primary business that got a boost during the pandemic.

The company is selling the chain to Kingswood Capital Management, a Los Angeles-based private equity firm, according to a statement Monday. It didn’t disclose financial terms of the deal, which is expected to close before Bed Bath & Beyond’s fiscal year end in February. Bed Bath & Beyond also approved a new $150 million accelerated share repurchase program.