Bed Bath & Beyond to acquire Installed Right and SFV Services
Bed Bath & Beyond announced June 9 that it will acquire Installed Right and SFV Services, a 20-year-old company for construction and facilities management projects. The move expands Beyond Home Services, a division of Bed Bath & Beyond, the retailer said. Bed Bath & Beyond said its acquisition of Installed Right and SFV Services adds […] The post Bed Bath & Beyond to acquire Installed Right and SFV Services appeared first on Digital Commerce 360.
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Bed Bath & Beyond announced June 9 that it will acquire Installed Right and SFV Services, a 20-year-old company for construction and facilities management projects. The move expands Beyond Home Services, a division of Bed Bath & Beyond, the retailer said.
Bed Bath & Beyond said its acquisition of Installed Right and SFV Services adds capabilities “that further differentiate” it from traditional retailers. Those services include installation, renovation, construction and project-execution, according to the retailer’s announcement.
Bed Bath & Beyond previously said its “Beyond Home Services” will combine brands across cabinets, flooring and closets. It will also include distribution with installation services, as well as financing solutions, according to the retailer. Founded in 2006 and headquartered in Detroit, Michigan, SFV Services is the parent company of Installed Right.
On its website, SFV Services said it has completed more than 1,000 national construction and facilities management projects for commercial clients. In the announcement, Bed Bath & Beyond CEO Marcus Lemonis said acquisitions “are not only about adding revenue” or earnings.
“They are about acquiring capabilities that make our platforms and Everything Home ecosystem more valuable.”
Lemonis said SFV Services’ “experience executing store remodels, fixture installations and retail construction projects also supports our capital-light store conversion strategy, providing additional expertise as we continue expanding and refining our physical footprint.
… The home services market remains highly fragmented, and we believe there is a significant opportunity to continue consolidating complementary businesses under the Beyond Home Services banner.” Bed Bath & Beyond ranks No. 99 in the Top 2000 Database. The database ranks North America’s largest online retailers by their annual ecommerce sales and more.
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