Murray, Utah – May 12, 2025 – Beyond, Inc. (NYSE:BYON), the parent company of well-known retail brands such as Bed Bath & Beyond, Overstock, and buybuy BABY, has announced a significant expansion of its financial investment in Kirkland’s, Inc. (Nasdaq: KIRK). This strategic move includes the closing of a $5.2 million expansion of the existing credit facility with Kirkland’s, aimed at bolstering its financial standing and enabling an updated store conversion strategy.

1. Key Details of the Investment

Beyond’s decision to expand its credit facility with Kirkland’s is intended to strengthen the latter's financial position and provide much-needed flexibility for general working capital. The upsized credit facility is not merely a financial lifeline; it also supports an enhanced strategy for converting physical stores to align with evolving consumer preferences.

Acquisition of Kirkland’s Brand Rights

In a bold move to further solidify its portfolio, Beyond has entered into an agreement to acquire the rights associated with the Kirkland’s brand. This acquisition will allow Beyond to expand its collection of iconic brands, positioning the company to better serve customers both online and in local communities.

2. Strategic Comments from Leadership

Marcus Lemonis, Executive Chairman and Principal Executive Officer of Beyond, emphasized the importance of this investment, stating, “Our expanded investment in Kirkland’s represents another step in our vision to create a family of trusted, iconic brands that serve customers where they are, both online and in local communities.” He expressed excitement about the potential of integrating Kirkland’s into Beyond’s existing brand ecosystem, which includes Bed Bath & Beyond, Overstock, and buybuy BABY.

3. Detailed Breakdown of the Agreement

The recent collaboration between Beyond and Kirkland’s encompasses several key components:

Credit Facility Expansion: Beyond has entered an Amended and Restated Term Loan Credit Agreement, allowing Kirkland’s to access an additional $5 million in financing. This agreement includes terms that permit Beyond to convert outstanding debt into shares of Kirkland’s common stock, pending any necessary shareholder approvals.

Brand Portfolio Expansion: Through an Asset Purchase Agreement, Beyond will acquire all trademarks containing “Kirkland” and related assets. These trademarks will be licensed back to Kirkland’s, enabling the continuation of brand usage in retail stores and e-commerce.

Enhanced Collaboration Terms: The collaboration agreement has been amended to increase the collaboration fee from 0.25% to 0.50% on all of Kirkland’s brick-and-mortar retail revenue. This move aims to capture expanded branding opportunities while eliminating Kirkland’s previous 3% royalty obligations in Bed Bath & Beyond and Overstock locations.

Updated License and Store Strategy: The amended License Agreement allows Kirkland’s to operate Bed Bath & Beyond Home and buybuy BABY stores within a neighborhood retail format, further diversifying the retail offerings.

Strengthened Governance: The transaction includes significant governance changes, such as the removal of transfer and voting restrictions on Kirkland’s stock and the potential appointment of an additional nominee to Kirkland’s Board of Directors by Beyond.

4. Future Outlook

With this strategic investment, Beyond aims to enhance its brand equity and unlock new revenue streams across various retail formats. The integration of Kirkland’s brand into Beyond’s diverse portfolio is expected to create a richer omni-channel experience for customers, catering to the changing landscape of retail.

Beyond continues to position itself as an ecommerce-focused retailer with a comprehensive range of products and services, reflecting its commitment to enhancing everyday life for its customers through quality, style, and value.

For more information, updates can be found on Beyond, Inc.’s Newsroom and Investor Relations pages on its website, Beyond.com.

Original press release