The New Jersey Baby Retailer Acquires Buy Buy Baby Leases
A New Jersey baby retailer, Dream on Me Industries, has purchased the intellectual property and 11 leases of Buy Buy Baby from its parent company, Bed Bath and Beyond, which recently filed for bankruptcy. Court records indicate that Dream on Me is well-positioned to reopen Buy Buy Baby stores.
Dream on Me Industries, a long-term supplier to Buy Buy Baby, acquired the leases at a bankruptcy-run auction for approximately $1.17 million. Last month, Dream on Me also bought Buy Buy Baby’s intellectual property, including its trademark and business data, for $15.5 million in a separate auction.
While it remains unclear how Dream on Me plans to utilize the leases, the company currently sells its baby products through various retail partners such as Amazon, Kohl’s, Target, Walmart, and Home Depot. However, Dream on Me could potentially reopen the beloved Buy Buy Baby chain using the acquired intellectual property and leases.
Dream on Me has not provided any comments regarding its plans for Buy Buy Baby. The closure of Buy Buy Baby’s stores has garnered significant attention since its parent company’s bankruptcy announcement, but no viable bids to keep the stores open emerged during the auction process.
Go Global Retail, a brand management firm, attempted to bid on Buy Buy Baby to maintain its operations, but the deal fell through. As a result, the stores have been undergoing liquidation sales, leaving minimal inventory. If the stores were to reopen under new ownership, a temporary closure would likely be necessary for restocking, a task that Dream on Me is capable of undertaking.
The 11 leases won by Dream on Me are located in prime real estate locations, primarily in the Northeast. Four of the leases are in New Jersey, with the remaining ones in New York, Maryland, Delaware, Massachusetts, Connecticut, and Virginia.
Dream on Me, established in 1988, manages multiple brands, including Evolur Baby, Sweetpea Baby, and Slumber Baby.
