The Container Store Expands Its Custom Closet Offering With the Acquisition of Closet Works
Container Store (The) (TCS)
Last container store (the) earnings: 2/4 04:05 pm
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Source: Business Wire
Announces Participation in the 24th Annual ICR Conference COPPELL, Texas--(BUSINESS WIRE)--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 Store’s manufacturing capabilities to include wood-based spaces and enhance its premium wood-based product offering. The Company already manufactures its popular and affordable component-based systems through its wholly owned subsidiary Elfa.The acquisition provides access to quality equipment and facilities located centrally in the United States and will allow the Company to control the process from product manufacturing to installation. This will give the Company opportunities for increased quality control and expanded profit margins. Additionally, The Container Store expects to o
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