Bed Bath & Beyond to Acquire Cost Plus World Market for $495M

Bed Bath & Beyond announced plans to acquire home goods retailer Cost Plus for $495 million. The all-cash deal will close in the second quarter and Cost Plus will continue to operate as a subsidiary. The two home goods chains have worked together for two years, with Bed Bath & Beyond testing Cost Plus-style specialty food departments in several of its stores. That trend will accelerate after the acquisition.