“Store Closing” signs at a Buy Buy Baby store in the Brooklyn borough of New York, on Monday, Feb. 6, 2023.
Stephanie Keith | Bloomberg | Getty Images
A lesser-known baby retail company located in Piscataway, New Jersey, has tentatively emerged as the winner in the auction for the intellectual property of Bed Bath & Beyond’s prized possession, Buy Buy Baby, according to court records filed on Thursday.
Dream on Me Industries, a company specializing in the sale of cribs, strollers, and other baby products through various retail partners, has secured the rights to Buy Buy Baby’s trademark and domain after successfully bidding in the auction held on Wednesday, as mentioned in the records. The exact value of the winning bid remains undisclosed.
The auction conducted on Wednesday exclusively focused on Buy Buy Baby’s intellectual property, as Bed Bath & Beyond, the parent company, decided to split the sale process to potentially secure a higher bid. The records state that another auction, encompassing all of Buy Buy Baby’s assets, including its numerous stores, is scheduled for July 7.
However, Dream on Me’s victory is tentative, and Bed Bath & Beyond stands a chance to lose the rights to Buy Buy Baby’s intellectual property if a higher bid is received at the upcoming auction.
Everyday Health Media, a digital media company specializing in health and wellness content, has been selected as the backup bidder.
Since declaring bankruptcy in late April, Bed Bath & Beyond has been committed to maximizing the value of its assets through the sale process. The company has repeatedly rescheduled several auctions in its endeavor to secure potential buyers.
Buy Buy Baby has garnered significant interest as it is widely regarded as the most valuable component of Bed Bath & Beyond’s business. However, uncertainties have arisen prior to the auction regarding the number and size of bids, as reported by CNBC.
Bed Bath & Beyond has already sold its flagship banner to Overstock.com for $21.5 million. Overstock.com, which intends to rebrand its website as Bed Bath & Beyond, opted not to acquire Bed Bath & Beyond’s physical stores and inventories.
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