Women’s Apparel Retailer Purchases Buddy’s Home Furnishings Stores

Furniture World News Desk on 11/12/2020

Bebe, a San Francisco-based retailer that sells women's apparel and accessories, recently purchased 47 Buddy's Home Furnishing stores for $35 million. The purchase agreement includes the ability for Bebe to open 20 more franchises in the southeastern U.S.

Buddy's Home Furnishings is an independent rent to own furniture store with over 300 locations nationwide.

Bebe CEO Manny Mashouf stated, "“This is a transformational acquisition that will not only be materially accretive to Bebe’s cash flow over time, but also provides a platform for future growth through the development agreement. The acquired Buddy’s stores have a strong and consistent record of free cash flow generation across multiple market cycles. This acquisition diversifies Bebe’s profit stream and better utilizes existing net operating loss carryforwards".

Chairman and Founder Manny Mashouf opened the first bebe boutique in 1976 in San Francisco. Recognizing a demographic that was neither junior nor bridge, Manny created the first contemporary fashion brand. Over 40 years later, bebe has established itself as one of the world's top fashion retailers.

After Bebe closed all of its B&M stores in 2017, B. Riley Financial took a 28% stake in the company.

About Bebe: bebe is the go-to destination for chic, contemporary fashion. The brand evokes a mindset – an attitude, not an age. It's a true original, always defining fashion's next stride forward. Designed for the confident, sexy, modern woman, bebe is a global label that embodies a sensual, sophisticated lifestyle. For more information, visit www.bebe.com.

About Buddy’s Home Furnishings: Since 1961, Buddy’s has worked every day to provide rent to own furniture, appliances and electronics that you can own Faster For Less. Today, Buddy’s is the largest independent Rent to Own dealer in the country with 300 locations nationwide. For more information, visit www.buddyrents.com.