American Eagle Outfitters Completes Quiet Logistics Acquisition
December 29 2021 - 4:10PM
Business Wire
Purchase solidifies operational efficiencies for AEO and creates
a supply chain platform with significant long-term growth
potential
American Eagle Outfitters (NYSE: AEO) today announced it has
completed the acquisition of Quiet Logistics and strategic
investments for approximately $360 million in cash (including
adjustments for closing cash and working capital). Quiet Logistics
is a leading logistics company that operates a network of in-market
fulfillment centers in Boston, Chicago, Los Angeles, Dallas, St.
Louis and Jacksonville, locating products closer to need, creating
inventory efficiencies, cost benefits and affordable same-day and
next-day delivery options to customers and stores.
“I am thrilled to officially welcome Quiet Logistics into the
AEO Inc. portfolio, cementing a collaborative partnership that has
meaningfully contributed to our financial results over the past 18
months,” said Jay Schottenstein, AEO’s Executive Chairman of the
Board and Chief Executive Officer. “AEO’s unique ability to reduce
delivery costs amid rising inflation is a direct reflection of the
efficiencies provided by their innovative fulfillment model. Quiet
Logistics has a highly experienced supply chain leadership team and
I look forward to their partnership as we continue to drive
operational excellence and grow the platform into a meaningful
business.”
Quiet Logistics will be a wholly-owned AEO subsidiary and will
continue to run its business independently. The network will
support AEO’s continued growth, while also driving economies of
scale as it expands its customer base to other brands and retailers
seeking advanced logistics capabilities.
About Quiet Logistics
Founded in 2009, Quiet Logistics is a rapidly growing operator
of state-of-the-art in-market fulfillment centers, and serves over
50 leading DTC and Omnichannel brands. Quiet’s unique strategy
enables product to be positioned close to customers and stores, and
brings speed and freight cost savings to its customers relative to
traditional third-party fulfillment networks. Quiet has a history
of innovation and thought leadership and a focus on urbanization,
automation, and access to labor pools outside of traditional DC
hubs, to benefit its customers.
About American Eagle Outfitters, Inc.
American Eagle Outfitters, Inc. (NYSE: AEO) is a leading global
specialty retailer offering high-quality, on-trend clothing,
accessories and personal care products at affordable prices under
its American Eagle® and Aerie® brands. Our purpose is to show the
world that there’s REAL power in the optimism of youth. The company
operates stores in the United States, Canada, Mexico, and Hong
Kong, and ships to 81 countries worldwide through its websites.
American Eagle and Aerie merchandise also is available at more than
200 international locations operated by licensees in 33 countries.
For more information, please visit www.aeo-inc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20211229005372/en/
Olivia Messina 412-432-3300 LineMedia@ae.com
Kelly Whitten Kekst CNC 212-521-4825
kelly.whitten@kekstcnc.com
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