Farmingdale-based MSG Distributors has completed its acquisition of e-commerce firm Boxed.com.
Terms of the deal were not disclosed.
Founded in 2003, MSG is a regional distributor of consumables and household items, specializing in natural foods and sports nutrition products. The company services business-to-business through its distribution and fulfillment centers across New York, Florida, Texas and California.
The acquisition of Boxed.com gives MSG an additional outlet to market its products and brands to bulk wholesale customers.
“This acquisition strengthens our inorganic growth strategy and diversifies our distribution models nationwide,” MSG President Mark Gadayev said in a company statement. “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.”
MSG’s acquisition will provide Boxed.com customers with faster and next-day delivery and an expanded catalog of brands and products, according to the statement.
“In synergy with this acquisition, MSG will further enhance its capacity for processing and distribution to Boxed customers nationwide,” Gadayev said in the statement. “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.”
Yuabov Law Group PLLC served as legal advisor to MSG, and Potter Anderson & Corroon LLP served as legal advisor to Boxed, with Hilco Streambank overseeing the sale, according to the statement.
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