E-Commerce Acquisitions in 2021

A&A Global Imports, LLC dba marijuanapackaging.com (a Boyne Capital portfolio company) has acquired Aphecal Enterprises, Inc. dba 420packaging.com, a supplier of packaging products and ancillary goods to the medical and recreational cannabis market. The add-on purchase expands A&A's e-commerce product assortment (including IP for the Squeezetops brand) and broadens its reach across cannabis packaging channels.

Sycamore Partners has acquired Digital Room, a Sherman Oaks-based e-commerce provider of customized marketing products, from an affiliate of H.I.G. Capital. Digital Room operates a portfolio of branded websites (including UPrinting, Signs.com and NextDayFlyers) and a coast-to-coast production network; Sycamore said it plans to support the company's next phase of growth and expand market leadership.

TZP Group’s portfolio company BIGNAME Commerce is merging with JAM Paper & Envelope in a deal supported by debt and equity co-investment from Patriot Capital alongside TZP. The combined company will combine BIGNAME’s in-house envelope manufacturing and DTC capabilities (Envelopes.com, Folders.com) with JAM Paper’s marketplace and data/analytics strengths; Andrew Jacobs (JAM’s CEO) will lead the combined business.

GOJA, an Amazon-focused brand aggregator headquartered in Miami, has acquired Mattsafe, a maker of a patented reusable eight-handled mattress protector sold primarily on Amazon. The acquisition expands GOJA's Amazon brand portfolio and SKU count while allowing GOJA to apply its proprietary data and integration platform to scale Mattsafe's performance.

Narvar, the post-purchase customer experience platform, acquired Lumi, a digital marketplace for packaging and print products, to expand its post-purchase offering into packaging procurement and supply-chain transparency. The deal integrates Lumi’s marketplace and data-driven packaging tools with Narvar’s post-purchase platform to help D2C brands optimize packaging, reduce costs, and improve customer experiences.

SIGNA Sports United (SSU) completed its business combination with Yucaipa and began trading on the NYSE, and in conjunction finalized the acquisition of the WiggleCRC Group (Wiggle and Chain Reaction Cycles). The acquisition bolsters SSU’s bike category leadership and geographic footprint, creating what the company calls the world’s largest online bike platform.

Invaluable, the Boston-based online marketplace for fine art and collectibles auctions, has acquired Swiss technology company Artmyn to integrate its high-resolution scanning, digital authentication and immersive imaging capabilities into Invaluable’s marketplace services. The acquisition will let auction houses and collectors convert physical artworks into authenticated digital representations (including blockchain/NFT functionality) and expands Invaluable’s digital experience and authentication capabilities for leading global art centers.

London-based e-commerce aggregator Olsam Group has completed the acquisition of the assets of Flywheel Commerce, a US-based e-commerce aggregator. The deal will expand Olsam's footprint in North America and allow Flywheel's brands to continue operating in the US while leveraging Olsam's capabilities to grow them into the UK and EU.

London-based fintech Twig Group Ltd has acquired Loopster Ltd, a UK managed marketplace for second‑hand women's and kids' clothing. The acquisition will integrate Loopster’s resale and managed-marketplace capabilities into Twig’s circular-economy fintech platform to expand consumer services and enhance its circular offerings.

FARFETCH Limited has acquired resale platform LUXCLUSIF for an undisclosed sum. The deal brings LUXCLUSIF's technology platform and team into the FARFETCH group to accelerate FARFETCH's resale service (FARFETCH Second Life) by adding capabilities such as automated pricing, authentication and faster geographic and category expansion.

Comvest Partners led a strategic recapitalization of Renovation Brands, a multi-brand direct-to-consumer e-commerce platform for home improvement products. Digital Fuel Capital, founder Rick Morse and Renovation Brands' management remain significant investors as Comvest provides capital and operational support to drive organic growth and further add-on acquisitions.

Funds managed by Greenbriar Equity Group acquired a majority position in JEGS Automotive, a national online retailer and distributor of high-performance aftermarket auto parts and accessories. The Coughlin family will remain significant minority shareholders; Greenbriar plans to support product and market expansion while enhancing JEGS' technology and distribution capabilities.

WPP has acquired Cloud Commerce Group (CCG), a UK-based multi-channel ecommerce software provider that helps brands market, sell and fulfil across marketplaces such as Amazon, eBay, Etsy and Wayfair. CCG — which employs over 100 people across Europe and powers over £1 billion in annual GMV — will join the Wunderman Thompson Commerce network to strengthen WPP’s commerce and technology capabilities.

Bolt has acquired Swedish embedded-commerce provider Tipser and used the integration to launch its Remote Checkout product. The deal combines Tipser’s publisher-focused, headless commerce technology with Bolt’s one‑click account and checkout network to enable native, point-of-discovery purchases across publishers and social channels.

Vision Healthcare has acquired 100% of Vitamaze GmbH, a Heidelberg-based e-commerce seller of vitamins, minerals and nutritional supplements that primarily sells via Amazon marketplaces and e-pharma channels. The acquisition is an add-on to Vision Healthcare’s pan‑European D2C platform to strengthen its Amazon and e‑pharmacy capabilities and accelerate growth across Southern Europe.

Funds managed by Castik Capital will acquire TBAuctions, the European online auction platform formed from Troostwijk Auctions and BVA Auctions, to accelerate pan‑European growth through organic expansion and buy‑and‑build. The deal (subject to Works Council and ACM approvals) will back TBAuctions' ATLAS technology platform and support further add‑on acquisitions across Europe while existing management will remain significant shareholders.

Global-e has agreed to acquire Flow Commerce, a Hoboken-based cross-border e-commerce software provider, for up to approximately $500 million (cash and stock). The deal expands Global-e's capabilities and addressable market to serve small and emerging direct-to-consumer brands, and broadens its relationship with Shopify.

The Maven VCTs have led a £2.1 million funding round in London-based FodaBox (formerly BoroughBox), with £1.5 million from the Maven VCTs and £600,000 from angel investors. The growth capital will be used to expand operations (including opening a third warehouse), enhance analytics capabilities and launch private-label products to scale the online food & drink marketplace and fulfilment business.

Centre Partners, a middle-market private equity firm, has acquired KNS International, a Draper, Utah-based designer and drop-shipper of branded footwear. Tower Arch Capital sold KNS to an affiliate of Centre Partners; KNS founder and CEO Jeremy Pope and management invested alongside Centre Partners and will continue to lead the business.

EMERGE Commerce Ltd. acquired all issued and outstanding shares of Retail Store Networks, Inc. (dba WholesalePet.com), a profitable U.S.-based B2B e-commerce marketplace serving independent pet retailers. The transaction, announced November 16, 2021, was for up to US$25 million (combination of cash, shares, deferred consideration and earn-out) and expands EMERGE’s portfolio into the B2B pet vertical while adding a recurring, asset-light marketplace expected to be immediately accretive to EBITDA.

Enthusiast Auto Holdings (EAH), a Cortec-backed e-commerce platform, acquired Teslaccessories, LLC d/b/a EVANNEX, a Deerfield Beach, Florida-based direct-to-consumer retailer of aftermarket Tesla and electric vehicle accessories. EVANNEX’s president Matt Pressman will continue to manage the business; EAH said it will support EVANNEX with digital marketing, operations, R&D and technology to broaden the product catalog and accelerate growth. Terms were not disclosed.

Cart.com, the end-to-end ecommerce-as-a-service provider, has acquired 180Commerce, a Carlsbad-based marketplace-focused ecommerce agency. The acquisition brings 180Commerce’s marketplace management, advertising, content and analytics capabilities into Cart.com’s integrated commerce platform to expand marketplace services for Cart.com’s brand customers.

Constellation Automotive Group has completed the acquisition of CarNext, combining CarNext's B2B and B2C digital used-car marketplaces with Constellation's BCA, cinch and WeBuyAnyCar businesses to create the largest pan‑European used car digital marketplace. The combined group will trade millions of cars annually across Europe and leverage expanded data, technology and supply relationships (including a long‑term supply agreement with LeasePlan) to accelerate growth and scale.

EPI, a PE-backed Italian brick-and-click sports merchandiser, has acquired 100% of Free Time Management Group S.r.l., the owner of the Calcioshop e‑commerce and three retail stores. The deal is an add-on to strengthen EPI's leadership in sports e‑commerce and retail (particularly football/soccer), accelerate digital and international growth, and expand product and retail capabilities.

ReserveBar has agreed to acquire Minibar Delivery to combine ReserveBar’s premium spirits e-commerce platform with Minibar’s on-demand delivery marketplace and retailer network. The deal expands ReserveBar’s retail footprint and adds on-demand delivery capabilities, linking retailers, technology, customer bases, and supplier marketing tools.

Cortec Group (through an affiliated investment group led by Cortec Fund VII) completed a growth recapitalization of Pink Lily on November 16, 2021, with founders Tori and Chris Gerbig remaining significant owners and continuing to lead the company. The investment will support Pink Lily's continued e-commerce growth through marketing optimization, new product introductions, and investments in personnel and systems infrastructure.

NewSpring Growth, the growth strategy of private investment firm NewSpring, made a growth equity investment in New York-based direct-to-consumer e-commerce company Bespoke Post to fuel rapid expansion. The capital will be used to accelerate member growth, invest in data science capabilities, and pursue retail partnerships to broaden distribution.

Hellman & Friedman, with financing support from EQT Private Equity, is backing Zorro Bidco S.à r.l.'s voluntary public takeover offer for all outstanding shares of zooplus AG, with a final increased cash offer of EUR 480 per share. The zooplus management and supervisory boards have recommended the offer; the transaction is subject to a minimum acceptance threshold and regulatory clearances and is intended to enable long-term investment and potential delisting.

Klarna has acquired Inspirock, an online trip planner that uses AI to build personalized itineraries for travelers. Klarna will integrate Inspirock's planning and content capabilities into its app to enable its 90 million users to plan trips, shop for travel-related products, and pay in installments while offering enhanced advertising opportunities to Klarna's retail partners.

High Tide Inc. has acquired an 80% interest in Enigmaa Ltd., operating as Blessed CBD, for £9,064,000 with a three-year option to acquire the remaining 20%. The acquisition gives High Tide a direct entry into the U.K. e-commerce CBD market; Blessed generated approximately £5.1 million of revenue and £2.8 million of EBITDA for the 12 months ended August 2021.

An affiliate of Cerberus Capital Management has acquired Brooklyn Bedding and Helix Sleep and combined them into a vertically integrated direct-to-consumer mattress platform. The combined business will operate under the existing brand names with John Merwin leading the combined company and Helix's co-founders leading the DTC segment, leveraging manufacturing and digital capabilities to scale the business.

Uber Technologies, Inc. has completed its acquisition of Drizly, the North American on-demand alcohol marketplace, for roughly $1.1 billion in stock and cash. Drizly will operate as a wholly owned subsidiary and its marketplace will be integrated into the Uber Eats app while maintaining a separate Drizly experience.

Pattern, the Lehi, Utah–based ecommerce and marketplace acceleration platform, received a $225 million minority growth equity investment led by growth investor Knox Lane with pro‑rata participation from existing investors. The capital will be used to further develop Pattern’s technology and services platform and extend its global presence across marketplaces and direct‑to‑consumer channels. J.P. Morgan served as placement agent; advisors named include William Blair, Jones Day and Kirkland & Ellis.

American Bath Group has acquired Vintage Tub and Bath, an e-commerce retailer of bathroom, kitchen and home products based in Mountain Top, Pennsylvania. Fairmount Partners served as exclusive financial advisor to Vintage Tub & Bath; terms were not disclosed and the Vintage Tub team will remain as the buyer invests in the company's people, product assortment and technology platform.

H.I.G. Growth Partners completed a strategic growth investment in GLD, LLC, a Miami-based digitally native direct-to-consumer jewelry, accessories, and apparel brand focused on the streetwear/urban market. The capital and strategic support from H.I.G. will be used to scale GLD’s digital marketing, product assortment, and overall growth initiatives; Paul Hastings served as legal counsel to H.I.G. and The Sage Group advised GLD.

Berkshire Partners led a recapitalization of Fast Growing Trees, with Cove Hill Partners participating as a minority investor and Summit Park remaining as an investor/partial seller. Fast Growing Trees is a Charlotte-based direct-to-consumer e-commerce retailer of trees, shrubs and live goods operating multiple branded websites; terms were not disclosed.

Francisco Partners has signed a definitive agreement to acquire a majority stake in RugsUSA, an e-commerce retailer of area rugs and home décor, from Comvest Partners in a growth investment; Comvest and founder Koorosh Yaraghi will retain minority stakes. The transaction, announced September 2021 and completed in November 2021, will support RugsUSA’s expansion into new categories and geographies; financial terms were not disclosed.

Catch Co., the subscription- and ecommerce-focused fishing brand operator behind Mystery Tackle Box and Karl's Bait & Tackle, has acquired Boston-based Recur Outdoors (including its Postfly brand). The terms were not disclosed; Catch Co. said the deal expands its fly-fishing offerings and complements its recently scaled retail distribution following a $38 million Series B.

Forum Brands, a New York–based e-commerce acquisition platform, announced the acquisition of two digital commerce brands — Bonza (pet products) and Simka Rose (eco‑friendly baby products) — as part of a push to expand its international footprint. The company also secured $100M in debt financing from TriplePoint Capital to scale its acquisition platform and invest in technology for its portfolio.

RumbleOn, Inc. completed the acquisition of RideNow, acquiring 100% of the RideNow dealership portfolio to form a combined omnichannel powersports platform. The transaction consideration is up to $575.4 million (approximately $400.4 million cash and $175.0 million in RumbleOn Class B common stock) and was financed in part by a $280.0 million term loan commitment from funds managed by Oaktree Capital Management; the combined pro forma business sold more than 63,000 units in 2020 and generated approximately $1.3 billion in revenue.

Amsterdam-based direct-to-consumer apparel brand MR MARVIS has partnered with Dutch investor Capital A Investment Partners in a growth investment to professionalize operations and accelerate the brand’s expansion across Europe. The deal will support MR MARVIS’s continued product and retail expansion while providing financial and strategic backing to scale the business.

Jacmel NYC, a major U.S. jewelry manufacturer and distributor, has acquired The Boho Boutique, an e-commerce DTC jewelry brand launched in December 2016, for an undisclosed amount. Jacmel said the deal will accelerate its digital and direct-to-consumer strategy; founder Saul Owide will move on to new projects including Rachel Bloom NYC.

Shutterfly has completed the acquisition of Spoonflower, a global marketplace for custom fabric, wallpaper and home decor, for approximately $225 million of enterprise value. The deal expands Shutterfly's product assortment and connects its 21 million active users to Spoonflower's community of designers, accelerating Shutterfly's entry into the home decor and custom textiles market.

WeCommerce Holdings Ltd. signed a definitive agreement to acquire substantially all of the assets of Archetype Themes Inc. for US$20.0 million upfront plus contingent consideration of up to US$12.0 million (total consideration up to US$32.0 million). Archetype is a leading designer of premium Shopify themes (used by over 60,000 merchants); the acquisition expands WeCommerce's portfolio of Shopify-focused technology businesses and theme offerings.

A Place for Rover, Inc. (Rover) entered into a business combination with Nebula Caravel Acquisition Corp., a SPAC sponsored by True Wind Capital, creating the publicly listed Rover Group, Inc. The transaction values the combined company at an enterprise value of approximately $1.35 billion and provides roughly $325 million in gross cash proceeds (including a $50 million private placement) to fund growth, market expansion, and product development.

BOW Group has acquired Musart.com, a Miami-based online marketplace for original artworks and licensed art products. The acquisition gives BOW Group a digital art marketplace and strengthens its D2C ecommerce, logistics and product-licensing capabilities while enabling Musart to expand sales internationally, particularly in Europe.

TowerBrook Capital Partners has signed a binding agreement to acquire a majority stake in Bruneau from Equistone Partners Europe, subject to regulatory approval and employee consultations. Bruneau is a leading European online distributor of office furniture and supplies (active in six countries with ~930 employees), and TowerBrook intends to support the group's organic growth, product offering expansion and digital customer acquisition.

Dallas-based private equity firm Altacrest Capital recapitalized Big Blanket Co, a Springfield, Missouri–based direct-to-consumer seller of oversized premium blankets. Source Capital and Venturi Private Wealth participated with debt and equity support (CrossFirst Bank provided a credit facility), and Big Blanket Co's founder and management remain substantial shareholders as the business pursues expanded product and eCommerce growth.

OneWater Marine Inc. signed a definitive agreement to acquire the assets of PartsVu, an online marketplace for OEM marine parts, electronics and accessories. The acquisition expands OneWater's presence in the marine parts and accessories sector, adding a digital e-commerce platform that generated roughly $25 million in trailing twelve-month sales and helping diversify the company's revenue beyond boat sales.

Equistone Partners Europe has acquired a majority stake in Vertbaudet from Alpha Private Equity. Equistone will partner with Vertbaudet's executive team to support the company's growth and further expand its position as a leading European e‑commerce and omnichannel platform for baby and children's products.