COPPELL, TX-Private-equity firm Leonard Green & Partners has closed on its acquisition of a majority stake of the 40-unit Container Store chain for an undisclosed amount. With the closing of the acquisition, employees are now the owners of the minority share of the company.

The chain’s sales this year are expected by executives to reach $600 million. Management is opening its first Philadelphia-area store this year, in Cherry Hill, NJ; and six new units are planned for 2008.

The Container Store’s management first made it public in February that it was looking for a private-equity buyer. The Leonard Green deal was announced last month.

Los Angeles-based Leonard Green is a major private-equity player in the retail industry. The firm has invested in such chains as Neiman Marcus, Petco and Sports Authority.

Leonard Green is keeping on the Container Store’s management team. Three of the company’s six board members are Container Store executives, while the other three are from Leonard Green. Garrett Boone, the retailer’s former co-chairman, has sold all of his shares in the chain, and he now retains the title of chairman emeritus.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.