In another move under CEO Mark Tritton’s turnaround plan, Bed Bath & Beyond (BBBY) has sold off Cost Plus World Market for an undisclosed amount to private equity firm Kingswood Capital Management as it looks to further streamline its portfolio.

The sale of World Market marks the fourth sell off for the company to free up capital, which also included deals for its Christmas Tree Shops, One Kings Lane, Personalization Mall, and Linen Holdings.

Wedbush analyst Seth Basham had previously estimated that the value of Cost Plus World Market at about $200 million, Retail Dive reported.

Through the sale of Cost Plus World Market, Kingswood will pick up 243 brick-and-mortar stores as well as an e-commerce site, two distribution facilities, and a corporate office located in Alameda, California. Cost Plus World Market is expected to continue to operate as a stand-alone retailer after the purchase is completed.

The transaction is expected to close prior to Bed Bath & Beyond’s fiscal year close in February 2021.

"We've taken deliberate steps throughout the year to streamline our portfolio and fortify our strategic focus in Home, Baby and Beauty & Wellness, and today's announcement represents the conclusion of this work,” Tritton said in a statement.

“In all, we have unlocked significant value from the divestiture of five business concepts this year, and we have also meaningfully reduced our lease liability and overall debt. These actions provide greater financial flexibility to support our digital first, omni-always transformation and our commitment to deliver sustainable total shareholder return."

Bed Bath & Beyond, which under the leadership of Tritton was working on a three-year transformation plan, is currently left with its namesake brand as well as the BuyBuy Baby, Harmon Face Values, and Decorist businesses.

At the same time, Bed Bath & Beyond announced that it approved a $150 million accelerated share repurchase program, which is subject to market conditions. This is in addition to the $225 million accelerated share repurchase program announced in October. The programs are expected to be completed by Feb. 27, 2021.

Tritton continued: "We are pleased to announce the approval of a second ASR program which reinforces our capital allocation principles to drive shareholder value creation and reflects a strong liquidity position and confidence in our strategic growth plan."

Shares of Bed Bath & Beyond were trading at $19.07 as of 1:14 p.m. EST, down 10 cents or 0.55%.

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A Bed Bath & Beyond store in Massachusetts is pictured. Bed Bath & Beyond
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