MURRAY, Utah — Bed Bath & Beyond is taking a major step toward reviving its brick-and-mortar business, announcing a $150 million deal to acquire The Container Store and its network of over 100 locations nationwide.
Bed Bath & Beyond, which also has Overstock.com, Kirkland’s, and Buy Buy Baby, in its portfolio said it has agreed to purchase the Coppell, Texas–based retailer. The Container Store’s locations fill more than 2.2 million square feet of retail space, and the deal is expected to close in July.
In a letter to shareholders, Bed Bath & Beyond executive chairman and CEO Marcus Lemonis outlined plans to rebrand the stores as The Container Store/Bed Bath & Beyond once the deal is finalized. The strategy looks to expand The Container Store’s product assortment beyond storage and organization products to include a more broader home goods selection traditionally associated with Bed Bath & Beyond. In addition, the acquisition provides Bed Bath & Beyond with a sizable physical retail footprint.
“This transaction will fill critical gaps in both our retail and home services strategy,” Lemonis wrote.
He added that there is a “meaningful opportunity to better leverage” the existing locations by expanding product offerings, introducing additional brands, and creating a more comprehensive shopping experience for homeowners.
Lemonis has revised the company’s revival strategy multiple times since Bed Bath & Beyond — once a chain with hundreds of stores — filed for Chapter 11 bankruptcy and liquidated its physical locations in 2023.
In addition to The Container Store acquisition, Bed Bath & Beyond said it plans to acquire Closet Works, a Chicago-area custom closet company, and Elfa, a Swedish home-organization system brand.
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