Beyond to Acquire The Container Store for $150M

Beyond has agreed to acquire The Container Store for approximately $150 million in stock and convertible notes. The transaction is paired with a CFO transition: Beyond appointed Brian LaRose, currently CFO of The Container Store, as its next finance chief.

LaRose will succeed Adrianne Lee as Beyond’s CFO effective April 28. Beyond’s CEO and Chairman Marcus Lemonis said the acquisition helps fill gaps in Beyond’s retail and home services strategy, including rounding out its Omni Retail pillar. Lemonis also said Beyond has agreements to acquire Elfa and Closet Works to fill out its Home Services pillar.

The Container Store brand is expected to bring more than 100 “trophy locations” and over 2.2 million square feet of retail space to Beyond.