The under-the-radar investors, and limited size of their bets, indicates the unclear path to salvation for Bed, Bath & Beyond. Nearly every product the company sells, from linens to towels to cookware can be found online.
A well-known company in the beaten up retail sector with shares that have fallen nearly 80 percent since an all-time high in 2015 should be bait for activist investors. It's the ideal duo of the sex appeal of a recognizable name and affordability granted by an out-of-favor industry.
The under-the-radar investors, and limited size of their bets, indicates the unclear path to salvation Bed, Bath currently has in its reach. Multiple private equity firms having considered acquisitions of Bed, Bath over the past few years, people tell CNBC, but no deal has transpired. In 2015, private equity firm Leonard Green & Partners built a stake in the company, a toehold that did not ultimately lead to a deal, despite some investor expectations that it would. The company's stock has steadily declined as expectations of a sale have waned.
As result of these challenges, at least one prominent activist investor has looked at and passed on pushing for change at Bed, Bath, a person familiar said. Other nominees include Janet Grover, the former corporate vice chairman of Macy's; Victor Herrero Amigo, the former CEO of Guess and John Fleming, the former head of global e-commerce at Uniqlo.
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