The sale of specialty retailer Container Store to private investment firm Leonard Green & Partners has been completed. Terms of the deal were not disclosed.
According to Container Store, the company’s retail store general managers and about 170 employees in all were extended equity opportunities. Leonard Green & Partners has major investments in several retailers, including Petco and David’s Bridal.
As part of the deal, Container Store will take on a new six-member board of directors, consisting of company CEO Kip Tindell, president Melissa Reiff and chief merchandising officer Sharon Tindell. From Leonard Green & Partners, board members will be vp Jonathan Sokoloff, vp Kristofer Galashan and partner Timothy Flynn.
Container Store has 39 locations in the United States, with future stores planned in Denver and Cherry Hill, N.J.