Headlines

The Container Store Acquires Closet Works

The $21.5 million transaction will strengthen the retailer’s manufacturing capabilities

Published

2 years ago

January 4, 2022

Jennifer Acevedo

The Container Store Acquires Closet Works — Shutterstock

Photography: Shutterstock.com

The Container Store (HQ) has completed its acquisition of Chicago-based Closet Works for $21.5 million, according to a press release. The move will strengthen The Container Store’s manufacturing capabilities and its wood-based product offerings.

“This acquisition allows us to meet the growing consumer demand for premium wood-based spaces and expand our capabilities, in an effort to gain a larger share of the estimated $6 billion-dollar custom closet market with expanded profit margins.”

As part of the deal, which closed Dec. 30, Closet Works President, and former co-owner, Tom Happ, joins the Container Store as President, Closet Works, and will help with the transition.

Jennifer Acevedo

Jennifer Acevedo is the editor-in-chief and associate publisher of VMSD magazine.

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