Two beaten-up home-goods brands are joining forces. This one’s stock is rallying.

Shares of the Container Store Group Inc. surged after hours on Tuesday after the struggling storage retail chain said it had secured the backing of home-goods seller Beyond Inc., the company that owns Bed Bath & Beyond and Overstock.

Under the deal, in which Beyond BYON will invest $ 40 million in the Container Store TCS and potentially land a hefty stake in the company, the two plan to revive growth at the Container Store and “improve customer experience” using Beyond’s brand-name recognition, customer data and other relationships.