Stord, the Atlanta-based e-commerce fulfillment and logistics provider, announced on Oct. 21 that it will acquire AMS Fulfillment, a rival that processes online orders for more than 150 beauty, wellness and direct-to-consumer brands. Stord said the price was in the nine figures, meaning at least $100 million. The deal is the largest in the company's 11-year history and its 11th acquisition.
AMS operates 10 warehouses with nearly 1.3 million square feet of storage, packing and shipping space in Los Angeles, Salt Lake City and Philadelphia. Its California and Delaware facilities run automated bin sorting systems. Services include order management, inventory management, reverse logistics, omnichannel fulfillment and white-glove work such as kitting, displays and personalization. Its customers sit mainly in cosmetics, apparel, footwear and accessories.
After the transaction, Stord's network grows to more than 100 company-controlled and partner locations. The company says it processes more than $15 billion in annual gross merchandise value for over 1,000 e-tailers, many of them small and medium-sized businesses. Stord reports that revenue has grown tenfold over four years and is approaching $1 billion.
The acquisition follows a run of financing and deal activity. Stord raised $250 million in venture funding at a $3 billion valuation in May, secured $650 million in equity and credit capacity earlier this year and closed a $400 million credit facility in October. Earlier purchases include the e-commerce fulfillment business of Pitney Bowes, Ware2Go from UPS and Shipwire from Ceva Logistics. This year the company also bought a former Quiet Logistics warehouse to expand in Dallas.
CEO and co-founder Sean Henry said AMS adds brands with demanding fulfillment requirements to the Stord platform as the company heads into peak season.
Source: FreightWaves - https://www.freightwaves.com/news/stord-acquires-e-commerce-competitor-ams-fulfillment-in-large-deal