Announced
Completed
Financials
Tags
final-mile delivery
Acquisition
United States
Majority
Single Bidder
Third Party Logistics (3PL)
Friendly
warehousing
retail supply chain
Private
Completed
Synopsis
Costco, an American multinational retail corporation, completed the acquisition Innovel Solutions, a provider of retail supply chain, warehousing and final-mile delivery, from Transformco, an integrated retailer, for $1bn. This transaction will provide Innovel and its employees with the resources to continue to build out a best in class logistics platform and the proceeds from the sale will allow TFCO to repay all of its non-real estate debt. “We have had a great relationship with Innovel and share a philosophy of taking care of our members. We believe the acquisition will allow us to grow our Ecommerce sales of ‘big and bulky’ items at a faster rate,” Craig Jelinek, Costco CEO.
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