The Container Store Expands Its Custom Closet Offering With the Acquisition of Closet Works
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Monday, January 3, 2022
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The Container Store (the Company), the leading specialty retailer of storage and organization solutions and custom closets, today announced the acquisition of Chicago-based home storage solutions and closet organization company, Closet Works for $21.5 million.
Key Points:
- The Container Store (the Company), the leading specialty retailer of storage and organization solutions and custom closets, today announced the acquisition of Chicago-based home storage solutions and closet organization company, Closet Works for $21.5 million.
- This strategic acquisition will expand The Container Stores manufacturing capabilities to include wood-based spaces and enhance its premium wood-based product offering.
- As part of our effort to double our sales over time, I am thrilled to announce our strategic acquisition of Closet Works, said The Container Store President and CEO, Satish Malhotra.
- Closet Works President and previous co-owner, Tom Happ, has joined The Container Store as President of Closet Works and will assist with the integration.