Manny Mashouf, CEO of Bebe, said: “This is a transformative acquisition that will not only significantly boost Bebe`s cash flow over time, but will also provide a platform for future growth through the development agreement. The buddy acquired subsidiaries have a strong and consistent balance sheet of free cash flow generation over several market cycles. This acquisition diversifies Bebe`s profit flow and better exploits existing net operating losses. Bebe, a San Francisco-based retailer that sells women`s clothing and accessories, recently purchased 47 Buddy`s furnishing stores for $35 million. The sales contract provides for Bebe to open 20 additional franchises in the southeastern United States. About Bebe: bebe is the focus of chic and contemporary fashion. The brand evokes a way of thinking – an attitude, not an age. It`s a true original that always defines the next stage of fashion. Designed for the confident, sexy, modern woman, baby is a global label that embodies a sensual and demanding lifestyle. For more information, see www.bebe.com. Buddy`s Home Furnishings is a self-owned rental at a private furniture house with more than 300 sites nationwide. Furniture Industry News and detailed magazine articles for furniture trade, furniture manufacturers and furniture dealers. Read more articles from Nic Ledoux After the closure of all the B-M subsidiaries in 2017, B. Riley Financial took a 28% stake.
The president and founder, Manny Mashouf, opened the first bebe shop in 1976 in San Francisco. Manny recognized a demographic evolution that was neither junior nor bridge, and created the first contemporary fashion brand. More than 40 years later, bebe has established itself as one of the world`s leading fashion companies. About Buddy`s Home Furnishings: Since 1961, Buddy`s has been working every day to rent its own furniture, appliances and electronics, which you can own faster for less. Today, Buddy`s is the largest independent rent to Own dealership in the country with 300 sites nationwide. For more information, see www.buddyrents.com.