Investor Snapping Up Container Store Stock Is No Buyout King
- After 96% fall, former litigator becomes second-biggest holder
- ‘There’s a gem inside this pile of mess,’ he says in interview
A Container Store Group Inc. location.
Photographer: Jin Lee/Bloomberg
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It had all the hallmarks of a corporate raider gearing up for a hostile takeover of The Container Store Group Inc., a home-goods retailer whose stock cratered after a fleeting surge during the pandemic daytrading frenzy.
A Florida investor was quietly snapping up the company’s stock, buying so much that by Monday he disclosed owning a more than 18% stake — making him the second-biggest shareholder after Leonard Green & Partners, the Los Angeles private equity firm.