Bed Bath & Beyond enters Mexico in joint venture

UNION, N.J. Bed Bath & Beyond has announced the formation of a joint venture with Home & More, a privately-held home products retailer operating in Mexico.

As a result of a $4 million investment, Bed Bath & Beyond becomes a 50% equity holder in a newly formed entity currently operating two stores in Mexico City under the name "Home & More," which offer a broad assortment of products for the home including, domestics merchandise, home furnishings and giftware. Bed Bath & Beyond believes that the Mexican joint venture will not have a material effect on its overall results or financial condition for fiscal 2008.

Marc Monsonego, ceo of Home & More, stated, "We are thrilled to partner with Bed Bath & Beyond. 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."