July 4, 2023: On Thursday, a little-known baby retailer based in Piscataway, New Jersey, has tentatively won the auction for Bed Bath & Beyond’s crown jewel Buy Baby’s intellectual property, court records filed stated.

Dream on Me Industries, which deals cribs, strollers, and other baby goods through a host of retail members, won the rights to assets such as Buy Buy Baby’s trademark and domain after an auction Wednesday, according to the records. The price of the winning bid was not disclosed.

Wednesday’s auction was only for Buy Baby’s intellectual property after its parent company, Bed Bath & Beyond, decided to split up the sale process in an obvious effort to secure a higher bid price. The records say another auction for Buy Baby’s assets, including its many stores, will be held on July 7.

Dream on Me’s win stands only tentative. If Bed Bath & Beyond receives a higher bid at the upcoming auction, it could lose the rights to Buy Buy Baby’s intellectual property.

Everyday Health Media, a digital media company that produces health and wellness content, was selected as a backup bidder.

Since its default in late April, Bed Bath & Beyond has been determined to sell its assets at the highest price possible. The company has repeatedly pushed back several auctions as it worked to secure buyers.

Interest has centered around Buy Buy Baby, long considered the most valuable part of Bed Bath & Beyond’s business. But the sale process is increasingly uncertain behind doubts grew in the days ahead of the auction about the number and size of bids previously reported.

The company already offloaded its namesake banner to Overstock.com for $21.5 million. The e-commerce retailer, which plans to change its website name to Bed Bath & Beyond, opted out of acquiring Bed Bath’s stores and inventories.