Bed Bath & Beyond to Buy Container Store for $150M

Bed Bath & Beyond has agreed to acquire The Container Store for about $150 million in stock and convertible notes, according to financial filings. The transaction includes The Container Store’s Sweden-based Elfa business and Chicago-based Closet Works.

The deal is expected to close in July. Container Store CFO Brian LaRose will replace Adrianne Lee as CFO at Bed Bath & Beyond. The company plans to rebrand stores as “The Container Store / Bed Bath and Beyond,” and position Elfa and Closet Works to anchor a home services division within its “Everything Home” strategy.