Online retailer Overstock.com is now Bed Bath & Beyond after acquiring the bankrupt retailer's name, loyalty program and domain for more than $21 million.

The acquisition does not include the physical stores that once housed Bed Bath & Beyond, according to a CNN report.

"Combining the strengths of the Overstock operational model and the Bed Bath & Beyond brand will create a powerful synergy," Overstock CEO Jonathan Johnson said in a press release.

Overstock.com will rebrand its online shopping site using the Bed Bath & Beyond branding and its loyalty program, called Club O, will become Welcome Rewards, which had been Bed Bath & Beyond's loyalty program name.

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