Boxed.com Acquired by MSG Distributors; Mark Gadayev Comments
FARMINGDALE, NY - An all-cash transaction has been completed, bringing two powerful portfolios under one umbrella. MSG Distributors recently unveiled its completed acquisition of Boxed.com and other various intellectual property portfolios and affiliates.
"This acquisition strengthens our inorganic growth strategy and diversifies our distribution models nationwide," Mark Gadayev, MSG's President, said. "The loyalty and trust that customers and brands have in Boxed is priceless, and we are committed to continue this model of offering bulk-sized products to customers at wholesale prices."
As a company release explained, MSG is a regional distributor of consumables and household essentials, servicing B2B accounts by way of its strategically located distribution and fulfillment centers across the United States; the company shares Boxed's longstanding commitment to providing exceptional products for businesses and consumers.
Boxed's loyal customer base will benefit from expeditious delivery services such as next-day delivery under MSG's new ownership. The company's partners will also gain access to a catalog of new items and brands that meet as many of their grocery and home goods needs as possible, the press release went on to note.
"In synergy with this acquisition, MSG will further enhance its capacity for processing and distribution to Boxed customers nationwide. In conjunction with our growing operations and patented innovations for distribution and warehouse management, the future of Boxed.com is bright, and the team at MSG is committed to ensuring that Boxed.com remains the go-to destination for customers seeking quality brands and exceptional customer service," continued Gadayev.
For more information on the strategic acquisition, click here.
ANUK will continue to report on the latest industry acquisitions and more, so be on the lookout for our next update.