Bed Bath & Beyond Inc. is fielding interest from potential acquirers of its Buybuy Baby business after the retailer came under pressure from an activist investor to unload the unit.
Suitors for the baby-gear chain include private-equity firm Cerberus Capital Management LP and Tailwind Acquisition Corp., a special-purpose acquisition company chaired by former Casper Sleep Inc. Chief Executive Philip Krim, according to people familiar with the matter. There is no guarantee the expressions of interest will result in a deal.
Union, N.J.-based Bed Bath & Beyond
has been exploring alternatives for Buybuy Baby. The company added three new directors to its board as a part of a settlement agreement with activist investor Ryan Cohen in March, with two of them joining the committee overseeing the Buybuy Baby review.
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