Signs for Bed Bath & Beyond and Buy Buy Baby are posted outside stores in Los Angeles.
Patrick T. Fallon Bloomberg | Getty Images
A little-known baby products retailer in Piscataway, NJ initially won an auction for the intellectual property of: Bed bath and others Court records filed Thursday said the crown jewel was “Buy Buy Baby.”
For the record, Dream on Me Industries, which sells cribs, strollers and other baby gear through a slew of retail partners, won the rights to assets including Buy Buy Baby’s trademark and domain name after Wednesday’s auction. The winning bid price was not disclosed.
Wednesday’s auction was exclusively for Buy Buy Baby’s intellectual property after its parent company, Bed Bath & Beyond, decided to separate the sales process, apparently in an effort to garner higher bids. Records show that all of Buy Buy Baby’s assets, including its many stores, will go up for another auction on July 7.
Dream on Me’s victory is only temporary. If Bed Bath & Beyond receives higher bids in an upcoming auction, it could lose the intellectual property to Buy Buy Baby.
Everyday Health Media, a digital media company that produces health and wellness content, was selected as a backup bidder.
Since declaring bankruptcy in late April, Bed Bath & Beyond has been determined to sell its assets for the highest possible price. The company has repeatedly delayed several auctions in an effort to secure buyers.
Much of the interest has been in Buy Buy Baby, long considered the most valuable part of Bed Bath & Beyond’s business. But the sale process has become increasingly uncertain amid growing doubts about the number and size of bids in the days leading up to the auction, CNBC previously reported.
The company has sold its eponymous banner to Overstock.com for $21.5 million. The e-commerce retailer plans to change the name of its website to Bed Bath & Beyond, but has opted not to acquire Bed Bath’s stores and inventory.