Bed Bath & Beyond Acquires Harmon Stores

On March 5th, Bed Bath & Beyond announced the purchase of health and beauty products retailer Harmon Stores Inc. New Jersey-based Harmon Stores currently operates 27 stores in three states, comprising approximately 178,000 square feet of store space. According to a company spokesman, the stores will retain the Harmon name for the time being.
Specific terms of the acquisition were not disclosed; however, the all-cash deal is not expected to affect Bed Bath & Beyond's fiscal 2001 results since it occurred in fiscal 2002.