Bed Bath & Beyond purchases home goods designer

Union-based Bed Bath & Beyond Inc. announced Tuesday that it has purchased One Kings Lane Inc., a home goods designer.

One Kings Lane works from its two design studios in San Francisco and New York to create merchandise for home furnishing brands, dealers, designers and tastemakers.

"We have followed One Kings Lane and loved its site since its inception, and we are thrilled for the opportunity to provide them with additional support and exposure to promote and grow their brand," Steven H. Temares, CEO and member of the board of directors of Bed Bath & Beyond, said in a prepared statement. "At the same time, One Kings Lane will serve as a cornerstone for Bed Bath & Beyond's growing offerings in furniture and home décor, and together we will be able to do even more for and with our collective customers wherever, whenever and however they wish to interact with us, and to further our mission to be viewed as the expert for the home."

"We are excited to be part of the Bed Bath & Beyond family," Dinesh Lathi, CEO of One Kings Lane, said in a prepared statement. "This is a tremendous opportunity for our customers, as well as our employees and business partners, to benefit from additional support and resources and gain exposure to new customers. We look forward to being able to continue to differentiate our product offerings and refine our point of view to further delight our current and future customers."

Financial terms of the deal were not disclosed.

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