Leonard Green & Partners, one of the private equity firms most active in taking out retailers, has scored another firm. This time it's the Container Store.
The Container Store, a popular oasis for storage bins and other organizational supplies, plans to announce today that it's sold the majority of its stock to privatefirm Leonard Green & Partners.
The terms of the purchase were not disclosed Monday. Los Angeles-based Leonard Green holds investments in more than 40 other companies, including a majority stake in David's Bridal and Petco Animal Supplies.
Leonard Green said it planned to retain The Container Store's current management.
Ken Nisch, chairman of retail consulting firm JGA, says he thought thewas unlikely to lead to higher prices for consumers or to declines in customer service. Nisch says The Container Store, which has already been expanding, could use the infusion of capital to open more stores, spurring further growth and revenue.