Bed Bath & Beyond to enter Mexico in j.v.  

By Staff -- Home Textiles Today, 5/15/2008 1:09:00 PM

Union, N.J. – Specialty retailer Bed Bath & Beyond has formed a joint venture with privately held Mexican home goods retailer Home & More, S.A. de C.V.

By way of investing $4 million, BBB is a 50% equity partner in the new entity now operating two Home & More stores in Mexico City, the U.S. retailer said. Merchandise lines at Home & More include textiles, furnishings and giftware.

Marc Monsonego, ceo of Home & More, said, “Our management team is eager to combine Bed Bath & Beyond's success – the culture, merchandising strategies and superior customer service – with our proven track record in Mexico.”

“Following on our successful entry into Canada, we are excited to be entering Mexico with the strong management team of Home & More as our partners. We believe their depth of retail experience and local knowledge in Mexico supports our partnership's short and long-term prospects for growth within Mexico,” said Steven Temares, ceo of BBB.

BBB said the j.v. “will not have a material effect on its overall results or financial condition for fiscal 2008.”