Costco completed the acquisition of Innovel Solutions from Transformco for $1bn.

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.