Bed Bath & Beyond to Buy The 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 deal includes The Container Store’s Sweden-based Elfa and Chicago-based Closet Works businesses.

The transaction is expected to close in July. Container Store CFO Brian LaRose will replace Adrianne Lee as CFO at Bed Bath & Beyond, and Container Store CEO Marcus Lemonis said the acquisition will support an omnichannel retail pillar plus a home services pillar anchored by Elfa and Closet Works.