Private firm invests in The Container Store

COPPELL, Texas The Container Store announced today that it will enter into a financial partnership with private investment firm Leonard Green & Partners. The private transaction is set to be completed next month.

"Our success is built on a unique culture, concept and brand - and we were looking for a unique partnership that was ground-breaking: one that would allow management to run the business exactly as we do today, give our shareholders an attractive value, and facilitate significant employee equity participation - and we achieved just that with Leonard Green & Partners," Kip Tindell, ceo and co-chairman of The Container Store said. "The Container Store will remain every bit as yummy, quirky and exciting and every bit as true to its values, philosophy and core concepts as we are right now."

The Container Store announced in February that it would pursue strategic alternatives due to strong market conditions for retail mergers and acquisitions, feeling the timing was right to secure the long-term future for the company. The Container Store hired JPMorgan to serve as its financial advisor and Cravath, Swaine and Moore LLP as its legal advisor.