Bed Bath & Beyond reached a cooperation agreement deal with activist investor Ryan Cohen and RC Ventures LLC, according to a news release by Bed Bath & Beyond on Friday.

  • The company stated that it will add three new directors and consider options for its buybuy Baby business as part of the deal with activist investor Ryan Cohen.
  • As part of the agreement, three RC Ventures’ director appointees, Marjorie Bowen, Shelly Lombard, and Ben Rosenzweig will join Bed Bath & Beyond’s board of directors.
  • Earlier in March, Cohen stated the company should consider various options to improve the business like selling off the entire company or its BuyBuy Baby business.

Bed Bath & Beyond will add three independent directors to its board, two of the directors will join a new four-member committee focused on unlocking significant value for buybuy Baby. BBBY: Nasdaq is up +1.51%