TX-SELLERX
31.5.2023 17:01:27 CEST | Business Wire | Press release
SellerX, one of the most successful eCommerce aggregators in Europe, has signed an agreement to acquire Elevate Brands, a leading U.S.-based aggregator of eCommerce businesses. The combined companies will form SellerX Group and become one of the world’s largest consolidators of eCommerce brands with a diversified portfolio spanning over 40,000 consumer products. The combined business will have a strong global footprint and sales of over €400m.
This acquisition brings together two key players in the aggregator space, each of which have established themselves as highly trusted and reputable partners for marketplace-native sellers in their respective markets. Bringing together complementary global footprints, the joint business will cover both the European and U.S.-markets with a roughly even revenue split across the two regions. The combined brand portfolio will consist of over 80 Amazon-native private label consumer brands in the segments of sports & outdoors, home & kitchen, mobile accessories, pets, and consumables.
The combined business will build on SellerX’s advanced technology platform, global supply chain infrastructure with proprietary warehouse operations, product launching, and internationalization capabilities. Elevate Brands will contribute its strong expertise in turning marketplace-native products into consumer brands sold across multiple channels. Leveraging a combined operational platform, the company will realize significant synergies across the value chain and achieve an attractive profitability profile through operational efficiencies. Furthermore, SellerX Group will have the ability to expand omni-channel distribution capabilities in local markets, including into traditional retail channels.
The acquisition is expected to close by the end of June 2023, subject to customary completion conditions. SellerX current co-founders Philipp Triebel and Malte Horeyseck will continue to lead the combined company as Co-CEOs. Elevate Brands’ co-founders will take on key leadership positions: CEO Ryan Gnesin will serve as President of the combined business, Chief M&A Officer Jeremy Bell will become Global Head of M&A, and Chief Growth Officer Rob Bell will head Global Business Development. The operations of the combined business will be steered from the SellerX headquarters in Berlin.
Philipp Triebel, co-founder of SellerX and Co-CEO of the combined company, said, “Elevate Brands and SellerX are a perfect match: a strong cultural fit, a shared vision, and complementary capabilities. This acquisition combines our know-how and diversified portfolios of strong brands with a market-leading technology platform and strong operational infrastructure. By leveraging our combined strengths, I am convinced we are well-positioned to drive further consolidation in the industry.”
Ryan Gnesin, co-founder of Elevate Brands and President of the combined company: “We are thrilled to combine forces with SellerX and to continue building world class omni-channel brands. Together we have a mission of becoming one of the world’s leading consumer product companies. Our tremendously talented team are excited to continue expanding our portfolio across numerous distribution channels, including traditional retail partners. The combined business has the technology, expertise and a wealth of data that will enable us to identify emerging consumer trends, rapidly test and iterate product ideas and fulfill demand across Europe and North America.”
In connection with the acquisition, a number of existing SellerX shareholders are investing new equity financing of more than €60m. The investment is led by Sofina with participation from L Catterton, Cherry Ventures, Felix Capital, 83North, Upper90 and TRCM Fund. In parallel, funds and accounts managed by BlackRock and Victory Park Capital have upsized their existing credit facility, which provides additional capital for M&A opportunities for the combined business.
About SellerX
SellerX is a Berlin-based, high-growth eCommerce player that aims to consolidate Amazon’s most successful sellers, acquiring them to scale their business and turn their brands into global household names. Founded in 2020, SellerX has become one of the largest and most successful eCommerce aggregators in the European market. Today it manages more than 50 ecommerce brands. SellerX is supported by well-known and reputable equity investors such as Sofina, L Catterton, Cherry Ventures, Felix Capital, 83 North, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), and debt investors via funds and accounts managed by BlackRock and Victory Park Capital, and has raised more than $750m in equity and debt financing. Marlborough Partners acted as capital structure advisor to SellerX and Sofina.
About Elevate Brands
Elevate Brands is a fast-growing U.S.-based eCommerce aggregator with a focus on building high quality omni channel brands. The company was founded in 2017 and has emerged as one of the leaders in this industry. Elevate manages 32 brands across a variety of evergreen product categories. It is backed by a number of renowned investors including funds and accounts managed by BlackRock, Upper90, Soroban Capital, TRCM Fund and Hersch Klaff and has received over $250m of funding in equity and debt. RBC Capital Markets acted as exclusive financial advisor to Elevate Brands.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230531005148/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Stonebranch Releases 2026 Global State of IT Automation Report, Revealing Orchestration as the Missing Link for AI Adoption and Trust19.3.2026 14:30:00 CET | Press release
New research shows hybrid IT orchestration, automation-as-a-service, and WLA investments are accelerating as AI workflow deployment scales across the enterprise. Stonebranch, a leading provider of service orchestration and automation solutions, today released its annual 2026 Global State of IT Automation Report, the company’s most comprehensive research study to date. Based on responses from 402 IT automation professionals spanning C-suite executives to individual contributors across North America, EMEA, Latin America, and APAC, the report provides a detailed, data-driven portrait of how enterprises are investing in, deploying, and deriving value from IT automation in 2026. “This year’s findings highlight an important shift in how organizations approach automation,” said Giuseppe Damiani, CEO of Stonebranch. “Organizations are now building automation as strategic infrastructure — a governed, scalable foundation that spans hybrid environments, operationalizes AI, and delivers automation
Perma-Pipe Accelerates Growth with New U.S. Northeast Facility Investment to serve Artificial Intelligence Data Center customers, Provides Middle East Operations’ Update and Concludes the Board’s Review of Strategic Alternatives19.3.2026 14:00:00 CET | Press release
Perma-Pipe International Holdings, Inc. (the “Company”) today announced a strategic expansion initiative focused on accelerating growth through entry into the high-demand U.S. Northeast region. The Company is positioning itself to capitalize on the rapidly expanding Artificial Intelligence (“AI”)-driven data center market in both the United States and international markets while continuing to reinforce its leadership in critical infrastructure solutions. As part of this growth strategy, Perma-Pipe will prioritize investments aimed at expanding its presence in the rapidly evolving AI data center sector. The initiative reflects the Company’s long-term commitment to supporting next-generation technology infrastructure and strengthening its position in the global energy, industrial, and infrastructure markets. Expansion in the U.S. Northeast President & Chief Executive Officer, Saleh Sagr said, “We are excited to announce the expansion of our operations with a new facility in the Northeast
Armis Launches First-of-Its-Kind Benchmark Report Warning of Critical Security Gaps in AI-Native Development19.3.2026 13:00:00 CET | Press release
Research reveals 100% of leading generative AI models fail to generate secure code for critical development scenarios Armis, the cyber exposure management & security company, is warning that the rapid enterprise adoption of AI-native development is outpacing critical security safeguards, leaving organizations exposed to systemic vulnerabilities. New research from Armis Labs’ Trusted Vibing Benchmark Report, which evaluates 18 leading generative AI models across 31 test scenarios, reveals a 100% failure rate in generating secure code. These vulnerabilities are most prevalent in high-risk areas like memory buffer overflows, design file uploads and authentication systems. Therefore, organizations should immediately implement AI-native application security controls to reduce risk. “The era of vibe coding is here, but speed should not come at the cost of security,” said Nadir Izrael, CTO and Co-Founder of Armis. “Our research finds that the worst offenders are the same ones selling security
Morocco’s FRMF Welcomes CAF Appeal Board as Upholding Rules, Stability of International Competitions19.3.2026 12:53:00 CET | Press release
Following the announcement by the CAF Appeal Board, the Royal Moroccan Football Federation (FRMF) welcomes the decision, which reaffirms the primacy of competition regulations and reinforces the conditions necessary for the proper conduct of international tournaments. From the outset, following the incidents that led to the interruption of the match, the FRMF maintained a clear and consistent position: the strict application of the governing regulations. The Federation’s approach was solely guided by this principle. Following its appeal, CAF has now confirmed that the applicable regulations were not properly enforced. Throughout the process, the FRMF acted in full compliance with all relevant legal and procedural frameworks, with a constant focus on upholding its rights and preserving the integrity of the competition. This decision provides clarity on the applicable framework and strengthens the consistency and credibility of international competitions, particularly within African foot
Hilton Announces Exclusive Agreement with YOTEL to Expand Global Footprint in Lifestyle Segment19.3.2026 12:00:00 CET | Press release
Independent, design-led YOTEL brand gains reach through Hilton’s global distribution platformHilton Honors members gain access to a sleek, contemporary new way to stayYOTEL will be the first independent brand as part of newly established Select by Hilton brand Hilton (NYSE: HLT) today announced an exclusive agreement with YOTEL that will provide guests yet another way to stay within the hospitality leader’s growing global portfolio. With highly efficient hotels in urban markets, YOTEL has pioneered ways to meet changing guest needs through stays that feature smart room design, and clever tech-enabled features. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260318705963/en/ YOTEL Boston The franchise agreement with YOTEL expands Hilton’s network, filling a distinct customer need in the growing lifestyle segment in a manner consistent with its proven asset-light model. YOTEL will continue to independently manage and license it
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom