Neighborhood Intelligence, formerly Bed Bath & Beyond, has terminated its proposed acquisition of F9 Brands.

The company said it will not proceed with the deal or enter into a commercial or strategic collaboration with F9, after the latter “was unable to satisfy all closing requirements within the contemplated timeframe”. 

The two firms will continue to operate independently, and the terms and economics of the previously announced agreement are no longer in effect. 

“Disciplined capital allocation and protecting shareholder value are central to how we evaluate every transaction,” said Marcus Lemonis, executive chairman of Neighborhood Intelligence. “We evaluate opportunities continuously, and this is one of many transactions we have considered that we elected not to pursue.”

Neighborhood Intelligence announced the proposed acquisition, valued at nearly $150 million, in April. The deal would have added Cabinets To Go, Lumber Liquidators, Gracious Home, Thos Baker, and Southwind Building Products to its portfolio.

The company said at the time that the deal was part of its plan to build a fully integrated home services platform, which combines brands across cabinets, flooring, closets, and distribution with installation services, financing solutions, and a growing retail footprint. 

With the deal now terminated, Neighborhood will continue to focus on its previously acquired businesses, including Elfa, Closet Works and SFV Construction Services.

Lemonis said the company will also pursue opportunities that meet its strategic, financial, and operational standards.

Bed Bath & Beyond officially changed its name to Neighborhood Intelligence early last month. The company’s portfolio includes Bed Bath & Beyond, Overstock, BuyBuy Baby, Kirkland’s, The Container Store, Elfa and Closet Works.