Date: October 13, 2020
Dear Valued Partners,
Lion Equity Partners, a Denver-based private equity firm specializing in acquiring corporate carve-outs, announced that it has entered into a definitive agreement with Bed Bath & Beyond to acquire T-Y Group & Harbor Linen with an anticipated closing at the end of this month.
There is great synergy between T-Y Group & Harbor Linen and Lion’s relatively recent acquisition of Riegel Linen. The merger of T-Y Group & Harbor Linen and Riegel Linen will form an industry-leading provider of textiles and more for hotels, cruise lines, restaurants, linen suppliers and healthcare facilities.
Our customers are at the core of our business and every decision we make.
We believe that this acquisition creates an opportunity for operational optimization which will enable us to provide you with even better products and service. The combination of T-Y Group & Harbor Linen and Riegel Linen will add even more expertise to our portfolio, so we continue being the ONE STOP SHOP for the hospitality and healthcare industries.
We want to assure you that our customers will remain our focus while our transformation strategy is developed. Our priority remains supporting your needs throughout this transition, especially during these unprecedented times.
More than ever, product, price and service are critical factors in our industry. This acquisition will enhance our ability to serve our valued customers.