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Organization products retailer The Container Store sets terms for $188 million IPO

By: Renaissance Capital
Posted: 10/21/2013 8:42:00 AM
Referenced Stocks: TCS

The Container Store Group, a national retail chain of storage and organization products, announced terms for its IPO on Monday. The Coppell, TX-based company plans to raise $188 million by offering 12.5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, The Container Store Group would command a fully diluted market value of $729 million.

The Container Store Group, which was founded in 1978 and booked $736 million in sales for the 12 months ended August 31, 2013, plans to list on the NYSE under the symbol TCS. The Container Store Group initially filed confidentially on July 12, 2013. J.P. Morgan, Barclays, Credit Suisse, Morgan Stanley, BofA Merrill Lynch, Wells Fargo and Jefferies are the joint bookrunners on the deal.