The Container Store Group, Inc. acquired Closet Works, Inc. from Tom Happ and others for $21.4 million.
January 02, 2022
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The Container Store Group, Inc. (NYSE:TCS) acquired Closet Works, Inc. from Tom Happ and others for $21.4 million on December 30, 2021. The partially offset by cash acquired of $1.9 million.
The Container Store Group, Inc. (NYSE:TCS) completed the acquisition of Closet Works, Inc. from Tom Happ and others on December 30, 2021.
The Container Store Group, Inc. is a specialty retailer of organizing solutions, custom spaces, and in-home services. The Companyâs segment includes The Container Store (TCS) and Elfa. TCS segment consists of retail stores, Website, and call center (which includes business sales), as well as its in-home services business. Elfa segment includes the manufacturing business that produces the elfa brand products that are sold domestically exclusively through the TCS segment as well as on a wholesale basis. This segment designs and manufactures component-based shelving and drawer systems and made-to-measure sliding doors. Its shelving and drawer systems are customizable for any area of the home, including closets, kitchens, offices, and garages. The Company also offers its products directly to its customers through its Website, responsive mobile site and application, call center, and in-home design specialists and organizers. Its products are offered under elfa, Avera and Preston brands.
THE CONTAINER STORE GROUP, INC. 
