Bed Bath & Beyond Enters Mexico
May 19, 2008,
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 investing $4 million, BBB is a 50% equity partner in the new entity operating two Home & More stores in Mexico City, the U.S. retailer said. BBB said the j.v. "will not have a material effect on its overall results or financial condition for fiscal 2008."
Marc Monsonego, ceo of Home & More, lauded BBB's success, while Steven Temares, BBB ceo, said, "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."