Murray, Utah — In a letter to shareholders from Marcus Lemonis, executive chairman and CEO of Bed Bath & Beyond, Inc., Lemonis outlined the strategic decision of Bed Bath & Beyond to acquire The Container Store, Elfa and Closet Works. The closing of this acquisition is expected to be in July 2026.
“This transaction will fill critical gaps in both our retail and home services strategy,” Lemonis explains. “As we build our company platform, any additional assets including talent must serve a clear purpose to our company’s long term strategy.”
Elfa is one of the world’s leading home organization systems based in Malmö, Sweden, and Closet Works, is based in the greater Chicago area. These businesses are anticipated to serve as foundational anchors of Bed Bath & Beyond’s ‘Home Services’ pillar.
“In addition, we have agreed to acquire The Container Store, founded in Dallas, Texas, which will join Bed Bath and Beyond, Overstock.com, buybuybaby.com and Kirkland’s to round out our ‘Omnichannel Retail’ pillar,” notes Lemonis.
“We have studied The Container Store business for over 18 months because it brings not only more than 100 trophy locations, but also a culture and operating discipline that aligns with the standards we are building,” Lemonis continues. “These locations represent over 2.2 million square feet of premium retail space.”
As part of this reimagination, these locations will be branded The Container Store / Bed Bath and Beyond.
With an average footprint of approximately 21,000 square feet per store, these locations will feature a combination of merchandise across bed, bath, storage and organization, kitchen and entertaining. Notably, they will significantly expand their existing home services offering.
“In addition to modular and custom closets, we will introduce flooring, lighting, kitchen, laundry room and bathroom cabinetry, creating a more complete solution, which we believe will help drive both revenue and margin expansion,” Lemonis says.
Amy Sullivan will serve as president, responsible for the performance and integration of the entire enterprise across all three pillars. Additionally, she will oversee the ‘Omnichannel Retail’ pillar, including the performance and integration of the company’s retail brands including Overstock.com, Bed Bath and Beyond, The Container Store, Kirkland’s and buybuybaby.com.
Lisa Foley will transition from chief marketing officer to chief operating officer, with responsibility for operational execution across the enterprise.
Brian LaRose will serve as chief financial officer, overseeing financial strategy, capital allocation and performance discipline.
“Together, Amy, Lisa, and Brian will form the senior leadership team with me, working together to execute our strategy and integrate our acquisitions,” Lemonis says.
Anders Hahn will be named CEO of Elfa. Having served as president for the past 10 years, Hahn will lead the continued growth and expansion of Elfa.
Bed Bath & Beyond, Inc. is building an integrated home ecosystem designed to make living in, financing, protecting and caring for a home simpler, more accessible and more affordable. Through a portfolio of trusted retail brands — including Bed Bath & Beyond, buybuy BABY, Overstock and Kirkland’s — the company serves millions of customers through omnichannel experiences.
SOURCE: Bed Bath & Beyond, Inc.