By Sabela Ojea
The Container Store said it has secured a $40 million investment from Beyond, the owner of Bed Bath & Beyond, as part of a strategic partnership.
The specialty retail chain offering storage and organization products on Tuesday said the intention of the partnership is to help it return to profitable comparable store growth.
The company also intends to benefit from Beyond's intellectual property, customer data, network of brands, and affiliate relationships.
The Container Store will issue about 40,000 shares of the company's newly created series of preferred stock to Beyond for an aggregate purchase price of $40 million, it said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
October 15, 2024 17:42 ET (21:42 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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