The Container Store Buys Closet Works for $21.5 Million, Adding USA Wood Closet Production

The Container Store said on Jan. 3, 2022 that it acquired Closet Works, a Chicago-based maker of wood custom closets, for $21.5 million.

The deal closed Dec. 30, 2021. The retailer said it gives it access to manufacturing equipment and facilities in the USA, so it can control the process from production to installation.

Key details

• Closet Works was founded in 1987 and runs a 60,000-square-foot office, factory and warehouse in Elmhurst, Illinois.
• It makes custom closets, home offices, wall beds, pantries and garage storage.
• Closet Works president Tom Happ joined The Container Store to lead the unit.
• The Container Store already makes its component closet systems through its Elfa subsidiary.

“This acquisition allows us to meet the growing consumer demand for premium wood-based spaces and expand our capabilities.”

Satish Malhotra, president and CEO, The Container Store

FAQ

How much did The Container Store pay?

$21.5 million.

Where does Closet Works make its products?

At a 60,000-square-foot facility in Elmhurst, Illinois.

When did the deal close?

Dec. 30, 2021.