Bed Bath & Beyond buys online retailer One Kings Lane in all-cash deal

Bed Bath & Beyond, a publicly traded retailer with more than 1,500 physical stores, today announced that it has acquired One Kings Lane, an online retailer that sells home goods, in an all-cash deal. Terms of the deal weren’t disclosed, but Bed Bath & Beyond said the deal was not material.

Early in its life, One Kings Lane was known primarily as a flash sale site, but it has since expanded beyond that focus. Gilt Groupe, another online retailer that distinguished itself with flash sales, recently was sold to Hudson’s Bay for $250 million. In January Recode reported that One Kings Lane was in a position to be sold for $150 million or less. Today One Kings Lane’s competitors include Chairish, Houzz, and Wayfair.

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“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,” Bed Bath & Beyond chief executive Steve Temares said in a statement on the deal.

Ali (Gelb) Pincus and Susan Feldman started San Francisco-based One Kings Lane in 2009. The company had 11 million subscribers as of 2014 and offers consultations in physical studios in New York and San Francisco.

In 2014 the company announced a $112 million funding round. Investors include Institutional Venture Partners, Kleiner Perkins Caufield & Byers, Greylock Partners, Tiger Global Management, Scripps Networks Interactive, and Mousse Partners.