Business
EMERGE Acquires WholesalePet.com, Profitable B2B Ecommerce Platform in U.S., Eclipses $100M in Pro Forma Gross Merchandise Sales
EMERGE Acquires WholesalePet.com, Profitable B2B Ecommerce Platform in U.S., Eclipses $10...
About this update from Emerge Commerce Ltd
[{"type":"text","content":"\n \n \n \n EMERGE Acquires WholesalePet.com, Profitable B2B Ecommerce Platform in U.S., Eclipses $100M in Pro Forma Gross Merchandise Sales\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen1{\nBORDER-TOP:0pt; BORDER-RIGHT:0pt; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt; BORDER-LEFT:0pt\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n WholesalePet.com is EMERGE's 7\n \n th\n \n acquisition, and is expected to be immediately accretive to EBITDA\n \n (1)\n \n \n \n WholesalePet.com generated Gross Merchandise Sales (\"GMS\")\n \n (1)\n \n of approximately\n \n US$40 million\n \n , revenue of\n \n US$3.7 million\n \n , and Adjusted EBITDA\n \n (1)\n \n of\n \n US$2.8 million\n \n in the twelve months ended\n \n September 30, 2021\n \n (all figures unaudited)\n \n \n Acquisition provides EMERGE with its first business-to-business (\"B2B\") marketplace, a highly strategic e-commerce technology platform for the pet industry, with a long-standing recurring merchant base, and veteran team who will continue in their roles\n \n \n With this acquisition, EMERGE eclipses\n \n $100 million\n \n in pro forma GMS\n \n (1)\n \n \n \n \n EMERGE CEO to host virtual webcast on\n \n Tuesday, November 23\n \n , at\n \n 11:00am ET\n \n (Register Below)\n \n \n \n \n \n TORONTO\n \n ,\n \n Nov. 16, 2021\n \n /CNW/ -\n \n \n \n EMERGE Commerce Ltd.\n \n (\"EMERGE\" or the \"Company\") (TSXV: ECOM), a diversified acquirer and operator of e-commerce brands, announces that it has closed the acquisition of all the issued and outstanding shares of Retail Store Networks, Inc. (dba, \"WholesalePet.com\") (\n \n www.WholesalePet.com\n \n ) effective November 16, 2021 (the \"Transaction\") for a purchase price of up to\n \n US$25 milli...