E-Commerce Acquisitions in 2023

London-based eCommerce platform Olsam Group has acquired Netherlands-based ecommerce aggregator Dwarfs to deepen its off-Amazon marketplace expertise and expand omni-channel capabilities. The combined business will be headquartered in London, pursue further acquisitions with an enlarged credit facility, and aims to leverage complementary capabilities (including Bol.com expertise) to drive geographic and channel expansion across Europe and North America.

Mayfair Equity Partners is backing a management buyout of TrustedHousesitters, taking a majority stake alongside the company's management team in a deal that values the business at over $100 million. Rockpool will exit its stake but will reinvest alongside Mayfair; the investment will support product innovation and accelerated growth across the US, UK, Europe and Australia.

Frasers Group has acquired luxury e-tailer Matches (formerly Matchesfashion) from private equity firm Apax Partners for £52 million (around $63 million). Frasers said the deal will strengthen its luxury offering and unlock synergies; Matches CEO Nick Beighton will remain in place.

Philadelphia-based Mainfactor Inc. acquired the e-commerce-related sites and assets of Gimme Radio Inc., purchasing the non-core D2C and merch businesses while Gimme retains its streaming music operations. Mainfactor plans to relaunch and operate the Gimme Metal store immediately and to bring back Gimme Country and Gimme Hip-Hop storefronts in early 2024 to expand its music-focused D2C offering.

Benchmark Tool and Supply has acquired TigerSupplies.com, an online retailer of construction lasers and surveying equipment. The deal will integrate TigerSupplies.com's ecommerce capabilities and product assortment into Benchmark's operations to expand Benchmark's construction-technology product offering and market presence.

Stewart Capital and Hadley Capital acquired 4AllPromos LLC, a direct marketer of promotional products headquartered in Connecticut. The transaction was financed with subordinated debt and minority equity from Spring Capital Partners IV, L.P., with Merion Investment Partners partnering in the financing.

Private equity funds managed by Blackstone completed the all-cash acquisition of Rover Group, Inc. for approximately $2.3 billion, paying $11.00 per share. The transaction takes Rover private to accelerate investment in the business, expand its global footprint and support growth initiatives for the online pet-care marketplace.

Norwegian online grocer Oda and Swedish online grocer Mathem have agreed to merge, creating the largest online grocery retailer in the Nordics with combined revenues above NOK 5 billion. The transaction combines Oda's logistics platform and Mathem's market position to drive scale, improved efficiency, lower prices and accelerated growth across the region; existing major shareholders (including Kinnevik, Verdane, Axfood and Summa Equity) support the deal.

Out&Back Outdoor has acquired The Locals Sale, a curated marketplace for used ski and snowboard gear, bringing the smaller resale business and its events, inventory and warehouse into Out&Back’s platform. The deal expands Out&Back’s hard-goods offerings, consolidates fulfillment between Denver and Salt Lake City, and transitions The Locals Sale employees (including founder Jake Cohn) into Out&Back’s team to grow winter-sports inventory and events.

BAXUS, a blockchain-enabled marketplace for wine and spirits, has acquired BoozApp, a mobile app that tracks pricing and values for tens of thousands of liquor bottles and serves over 100,000 users. The acquisition will integrate BoozApp's pricing transparency and collection-tracking features into BAXUS's marketplace and custody/insurance services to expand capabilities and reach among casual buyers, collectors and retailers.

Luxury staging and interior design firm Vesta has acquired DTC furniture rental startups Fernish and Feather for an undisclosed amount and will operate the three brands under a single banner, Showroom. The deal brings the combined organization to roughly 200 employees and expands Vesta’s reach into mass-market, subscription furniture rental across major U.S. metros and national online channels.

Vivid Seats Inc. (NASDAQ: SEAT) acquired Vegas.com in a cash-and-stock transaction valued at approximately $240 million (about $151.2M cash and $88.8M in Vivid Seats Class A common stock). The deal brings the Las Vegas-focused entertainment and travel marketplace onto Vivid Seats' platform to increase scale and inventory in the Las Vegas market and expand its total addressable market.

Michigan-based Craig Frames has acquired WallsThatSpeak, a Paducah, Kentucky online seller of framed scenic, motivational and educational wall decor. The deal expands Craig Frames' product offering in framed prints, stretched canvas and decorative art while reinforcing its emphasis on U.S.-based manufacturing and faster custom/semi-custom fulfillment.

Graphite Capital portfolio company Wonderbly has acquired Historic Newspapers, the global market leader in personalised newspaper-based gifting. The deal expands Wonderbly's product offering into adult gifting and integrates Historic Newspapers' archive content to accelerate growth beyond children's personalised books.

Optimizon, a UK e-commerce agency, has acquired Nozzle, an Amazon analytics platform based in London, and Marketplace AMP, a Cambridge-based FMCG Amazon agency. The deals expand Optimizon’s data-led ecommerce capabilities and sector expertise as it integrates both teams to broaden marketplace services for brands and sellers.

Nolk, a Montreal-based e-commerce group focused on sustainable direct-to-consumer brands, has acquired Revant Optics (Portland, OR) and Rose Buddha (Montreal, QC). The deals expand Nolk's active-lifestyle and sustainable apparel/eyewear portfolio, enabling the brands to leverage Nolk's proprietary technology, operational platform and investor support to accelerate growth across North America.

WeCommerce Holdings LP, a subsidiary wholly owned by Tiny Ltd., has acquired all issued and outstanding shares of Clean Canvas Limited for an upfront US$11.5 million plus up to US$1.2 million of contingent earn-out consideration. Clean Canvas, a UK-based Shopify theme designer and developer, will continue to operate as an independent brand and its results will be consolidated into Tiny's financials; the purchase includes a US$750,000 holdback and the earn-out may be paid in cash, Tiny common shares, or a combination.

An affiliate of Nexus Capital Management LP acquired FTD's consumer and florist businesses, including the FTD and ProFlowers brands and the FTD florist network, taking the company private. Nexus established a new capital structure to strengthen FTD's balance sheet and invest in its digital platform, brand, and network of florists; Jeff Clarke was named Executive Chairman.

MSG Distributors, Inc. completed an all-cash acquisition of Boxed.com and related intellectual property and affiliates from Boxed, Inc.'s estate. The deal gives MSG the Boxed brand, site and IP and is intended to expand MSG's distribution, fulfillment and e-commerce capabilities nationwide while preserving service for Boxed customers and vendors.

The Swoondle Society, a circular resale marketplace for children's apparel, has acquired ShopTomorrows, a nationwide peer-to-peer childrenswear resale marketplace founded by Haley Lieberman. The deal expands Swoondle's customer base, product selection and B2B/B2C trade-in capabilities, creating a larger market-leading platform in the children's resale market.

FULLBEAUTY Brands has acquired CUUP, a U.S.-based digitally native, size-inclusive intimates brand focused on underserved large-cup customers. FULLBEAUTY plans to add CUUP to its digital mall alongside brands like ELOQUII to expand its reach into younger and more diverse demographics and deepen its presence in the intimates and plus-size apparel market.

Sabre Corporation has acquired hospitality e-commerce provider Techsembly to integrate Techsembly’s marketplace and gift card capabilities into Sabre Hospitality’s retailing solutions. Terms were not disclosed; Techsembly — described in Sabre's release as based in the United Kingdom with offices in Singapore and Hong Kong — and its e‑commerce team will join Sabre to accelerate product roadmap and expand hotel retailing functionality.

Gauge Capital has acquired FlutterHabit, a Lenexa, Kansas–based direct-to-consumer eCommerce brand specializing in premium eyelash extensions. D.A. Davidson served as exclusive financial advisor to FlutterHabit; financial terms were not disclosed.

Groupe LFPI (via its LFPI Midcap 8 fund) has invested in French sustainable furniture DNVB Tikamoon, with ERES (Edmond de Rothschild Equity Strategies) selling its entire stake. Founders Arnaud Vanpoperinghe and Thibault Deslorieux remain majority shareholders; the funding will support aggressive international expansion, development of omnichannel retail and sustainability initiatives to triple revenue over five years.

TBAuctions, a Castik Capital-backed European online auction platform, has acquired Danish auction house Auktionshuset dab. The deal brings Auktionshuset dab’s insolvency and project-auction expertise and Danish market coverage into TBAuctions’ ATLAS platform to accelerate growth and expand the group’s Nordic footprint.

Channel Key, LLC has acquired the Amazon agency-related client assets of Kaspien, Inc., with the purchase agreement finalized on June 6, 2023. Channel Key will begin onboarding the acquired clients immediately while Kaspien focuses on its core retail business; the deal expands Channel Key’s Amazon service offering and client base.

Berlin-based eCommerce aggregator SellerX has signed an all-share agreement to acquire U.S.-based Elevate Brands, creating SellerX Group with more than 80 Amazon-native brands and combined annual sales of roughly €400m. Existing investors (led by Sofina with participation from L Catterton, Cherry Ventures, Felix Capital, 83North, Upper90 and TRCM Fund) committed €60m+ of new equity and the combined business will receive an expanded credit facility to pursue further M&A and international expansion.

Digital Fuel Capital has made a growth investment in JAXXON, a direct-to-consumer men's jewelry and accessories brand, with participation from Timex Group. The capital will support JAXXON’s next phase of growth—scaling its e-commerce, marketing and product expansion as it builds the leading men's accessories brand.

Suma Brands has merged with D1 Brands to create The Ambr Group, an omnichannel e-commerce platform that combines both teams and a portfolio of more than 30 businesses generating over $100 million in annual revenue. The combined company also raised new equity financing from investors including CoVenture, Material, and Pace Capital and secured a $125 million credit facility to continue consolidating Amazon FBA businesses.

Teamshares, an employee-ownership platform based in New York, acquired Maggie's Organics of Dexter, Michigan, an organic apparel and home goods brand founded by Bená Burda. The transaction facilitates founder exit/retirement and transitions ownership toward employees (18 employees will own 10%), preserving Maggie's sustainable, fair-trade mission.

TBAuctions, the Europe-focused online B2B auction platform backed by Castik Capital, has acquired Dutch Epic-Auctions. The add-on expands TBAuctions' reach in agricultural, transport, earthmoving and construction equipment auctions, adding ~10,000 lots and €30 million in annual hammer turnover to the group.

FullBeauty Brands has agreed to acquire plus-size fashion brand ELOQUII Inc. from Walmart; terms were not disclosed. The deal will position ELOQUII as the anchor tenant in FullBeauty's new digital mall and help FullBeauty expand its presence in the fast-growing U.S. women's plus-size apparel market.

EQT Mid Market has sold Berlin-headquartered eCommerce platform kfzteile24 to a consortium led by the company's management together with Project A Ventures, Koehler Group and a group of technology investors (SB21). Under EQT's ownership kfzteile24 expanded its product range and logistics capabilities; the transaction closed on 20 April 2023 as an exit by EQT Private Equity.

Fanatics has agreed to acquire EPI s.r.l., an Italian "brick-and-click" sports merchandise and e-commerce specialist, from Quadrivio Group's Industry 4.0 Fund. The deal expands Fanatics' European footprint and gives it direct access to Italian Serie A club partnerships and an established e-commerce and retail hub based in Milan.

Enthusiast Auto Holdings (EAH), a Cortec Group-backed e-commerce platform for performance automotive aftermarket businesses, has acquired RCI Off Road, a Loveland, Colorado-based manufacturer and online retailer of off-road accessories for pickup trucks and SUVs. The acquisition is an add-on to EAH’s portfolio to expand into the truck/off-road aftermarket and to leverage EAH’s digital marketing, technology, and distribution capabilities to scale RCI’s growth.

Capital A has become the new majority shareholder in Pimm Solutions, a Dutch e-commerce scale-up and market leader in employee gifting. The existing management team (Rick van Nispen and Joost van Kalmthout) will continue to lead the company as Capital A provides capital, network and expertise to accelerate growth and international expansion.

New Phase Blends, a Pittsburgh-based online CBD blog and e-commerce brand owned by Dale Hewett, has acquired CBD School and consolidated its informational database into New Phase Blends’ platform. The acquisition aims to combine CBD School’s educational content with New Phase Blends’ existing product and content portfolio, strengthening the buyer’s content and consumer-facing capabilities.

Central Carolina Inboards acquired Discount Inboard Marine LLC, an e-commerce retailer of inboard boat parts based in Chapin, South Carolina; the transaction closed on March 3, 2023. The sellers, Karen and Vince Dougherty, exited after 32 years of operating the business; key sales rep Richard Powlas will be retained and Generational Equity advised on the transaction.

Trends International has acquired Art.com and AllPosters.com, including their IP, image library, tradename, and the U.S. base of operations near Columbus, Ohio, together with staff and management. The deal expands Trends’ direct-to-consumer e-commerce offering and augments its product portfolio and licensing capabilities for wall art and décor.

AEA Investors' middle market private equity team has closed the acquisition of TileBar. TileBar, a digitally native omnichannel designer and retailer of wall and floor tile founded in 2009 and headquartered in Inwood, New York, operates DTC and B2B channels and has ~575 employees; AEA intends to partner with the founder to scale the business and accelerate omnichannel/e-commerce growth in a large, fragmented tile market.

BitFrontier Capital Holdings, Inc. completed the acquisition of Asic Miners US LLC (ASICMINERSUS.COM), a Wyoming-based distributor of cryptocurrency mining hardware that generated over $6 million in 2022. The deal makes Asic Miners US a wholly owned subsidiary as BitFrontier pursues vertical integration by combining hardware distribution with planned liquid-immersion miner hosting facilities across the United States.

3Z Brands has acquired Nolah Sleep, adding the sleep-technology mattress brand to its vertically-integrated direct-to-consumer mattress platform. Nolah will continue to operate under its independent brand alongside 3Z’s other sleep brands (Helix Sleep, Brooklyn Bedding, Bear Mattress), allowing 3Z to expand its product capabilities and DTC market presence in the United States.

AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC), through its subsidiary Fresh2 Technology Inc., entered into a definitive agreement to acquire Fresh2 Ecommerce Inc., a U.S.-based B2B e-commerce platform connecting Asian food suppliers and supermarkets. The company will purchase 100% of Fresh2 Ecommerce for $2.1 million, payable in newly issued AnPac shares, as part of its initiative to expand into the U.S. food e-commerce and supply-chain market.

reCommerce, a Topspin Consumer Partners portfolio company, has acquired Firefly Buys, a full‑service e-commerce accelerator and Amazon seller. The deal expands reCommerce's marketplace capabilities and seller services, bringing Firefly's supply chain, listing optimization and Amazon expertise into the reCommerce platform.

Powder Valley, a portfolio company of Praesidian Capital, has acquired Pro-Motion Distributing, a Las Vegas–based tech-enabled multi-category e-commerce distributor. The acquisition brings Pro-Motion's technology platforms and broad product mix into Powder Valley to accelerate online sales, expand product offerings and support growth in the outdoor/sports market.

MarineMax, through its technology arm New Wave Innovations, has completed the acquisition of Boatzon, an online boat and marine digital retail platform that integrates financing and insurance. The deal brings Boatzon's FinTech and InsureTech capabilities into MarineMax's digital portfolio to accelerate online boat purchasing and improve customer experience across its global dealer and marina network.

On January 4, 2023, Sleep Country Canada Holdings Inc. closed the acquisition of substantially all assets of Silk & Snow Inc. for approximately C$24 million in cash plus up to C$19.45 million in contingent cash consideration. The deal brings a fast-growing Toronto-based direct-to-consumer sleep and lifestyle brand into Sleep Country’s portfolio to expand its DTC e-commerce capabilities and product offering.