Pier 1 Abandons Cost Plus Bid

Well, it looks like a few of Counter Culture’s readers are breathing a sigh of relief.

Pier 1 Imports has decided not to pursue its $81-million offer to acquire Cost Plus World Market just a couple weeks after the latter’s management called the deal “distracting and ill-timed.”

Does a Pier 1-Cost Plus Merger Make Sense?

When we saw that Pier 1 Imports is offering to buy competitor Cost Plus for $81 million, we have to admit that confusion set in.

As much as we like the Cost Plus stores (Where else in the suburbs can you pick up Pinot Noir, Sriracha and a fancy chair under one roof?), the timing of this deal seems a bit off.