NEW YORK, Nov. 12, 2020 /PRNewswire/ -- Pharmapacks,
LLC ("Pharmapacks" or "Company"), a leading ecommerce enablement
platform and retail seller for brands across major ecommerce
marketplaces, today announced a strategic investment of more than
$250 million from global investment
firm The Carlyle Group (NASDAQ: CG) to accelerate the Company's
growth plans. The growth investment places Pharmapacks'
enterprise value at approximately $1.1
billion.
Pharmapacks was founded as a single brick and mortar pharmacy
and has since evolved into a platform providing brands with
best-in-class ecommerce capabilities. Since 2010, Pharmapacks has
cultivated extensive partnerships with consumer brands across
ecommerce marketplaces in North
America, including Amazon, Walmart, eBay, Target, Google and
Facebook.
Powered by its proprietary platform, Pharmapacks is trusted by
millions of customers to provide for their daily needs. After
reaching over $250 million in sales
in 2019, Pharmapacks is on a current run rate to achieve
approximately 60% year-over-year growth and, with the opening of an
additional 230k square foot
replenishment center this month, Pharmapacks is expected to fuel
accelerated growth in Q4.
"Pharmapacks is experiencing unprecedented growth with massive
market support and highly attractive industry dynamics," said
Andrew Vagenas, Chief Executive
Officer of Pharmapacks. "We are thrilled that our partnership with
Carlyle, a world-class investment firm with extensive connectivity,
data and global resources, will provide us with an opportunity to
take significant steps to enter the next phase of our growth
plans."
"We're thrilled to partner with another founder-led growth
company, leveraging the global resources of the Carlyle platform to
support Pharmapacks' acceleration," said Jay
Sammons, Carlyle's Head of Global Consumer, Media &
Retail. "We are focused on identifying companies that are growing
significantly faster than the market and benefiting from strong
secular tailwinds. As a company sitting at the cross section of a
number of attractive trends, including the massive and rapid
expansion of ecommerce, we have strong conviction in Pharmapacks'
ability to achieve sustainable growth."
"We're excited to partner with Andrew and the Pharmapacks
management team to execute a multi-dimensional growth strategy for
the Company," said Yue Bonnet, a Principal specializing in
Consumer, Media & Retail at Carlyle. "We believe there are
significant opportunities to support the Company's value creation
plans by helping to rapidly increase the number of consumer brand
partners, building out the data and analytics platform and
increasing capacity through additional warehouse expansion."
The investment in Pharmapacks is a continuation of Carlyle's
long-term global commitment to Consumer, Media & Retail in
which it has invested more than $21.5
billion of equity since inception. Equity capital for the
investment came from Carlyle Partners VII, an $18.5 billion fund that makes majority and
strategic minority investments primarily in the U.S. in targeted
industries, including Consumer, Media & Retail.
J.P. Morgan served as lender and advisor to the Company.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with
deep industry expertise that deploys private capital across four
business segments: Corporate Private Equity, Real Assets, Global
Credit and Investment Solutions. With $230
billion of assets under management as of September 30, 2020, Carlyle's purpose is to
invest wisely and create value on behalf of its investors,
portfolio companies and the communities in which we live and
invest. Carlyle employs more than 1,800 people in 30 offices across
six continents. Further information is available at
www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
About Pharmapacks
Pharmapacks, LLC is a leading ecommerce enablement platform and
retail seller for brands across major ecommerce
marketplaces with proprietary technology that empowers brands
with a complete and cost-effective logistics, fulfillment,
marketing and sales solution. Pharmapacks has a premier team of
ecommerce experts with over 10 years' experience and 850 employees
connecting consumers to their favorite brands on online
marketplaces such as Amazon, Walmart, Target, Google, eBay and
Facebook, becoming one of the largest marketplace sellers
in North America. Pharmapacks serves as a "launch pad" for
emerging brands by giving a select amount of lesser-known brands
access to the Pharmapacks' e-commerce platform and consumer base.
This enables brands to focus on product research and development,
while Pharmapacks strategically sets competitive price points and
builds a connection between the consumer and the brand.
Media Contacts:
Brittany Berliner
Brittany.Berliner@carlyle.com
+1 (212) 813 4839
Jeremy Watkins
jwatkins@pharmapacks.com
+1 (212) 430 5050
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SOURCE Pharmapacks