Investing.com — Bed Bath & Beyond Inc. (NYSE:BBBY) shares rose 1% Thursday following the company’s announcement to acquire The Container Store, Elfa, and Closet Works.
The acquisition will add over 100 retail locations representing more than 2.2 million square feet of retail space. The Container Store locations, averaging approximately 21,000 square feet per store, will be rebranded as The Container Store / Bed Bath and Beyond and will feature expanded merchandise across bed, bath, storage and organization, kitchen, and entertaining categories.
The transaction includes Bed Bath & Beyond common stock priced at $7.00 per share and notes convertible into common stock at approximately $9.10 per share. The company expects to close the acquisition in July 2026.
Bed Bath & Beyond also completed the acquisition of Kirkland’s, which will operate over 230 locations nationwide. The company said it expects at least $40 million of annualized cost savings and productivity efficiencies within 12 to 18 months from fully integrating Kirkland’s Home, The Container Store, Elfa, and Closet Works.
The acquisitions are part of the company’s three-pillar strategy: the Omni Channel Retail Pillar, the Products and Services Pillar, and the Home Services Pillar. Elfa, based in Malmö, Sweden, and Closet Works, based in the greater Chicago area, will serve as anchors of the Home Services Pillar.
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