Introduction to Virtualstock Deal
A British e-commerce company that works with retailers such as Aldi, Argos, and John Lewis has completed a deal to sell themselves to an American rival. Virtualstock, which is headed by Moonpig founder Nick Jenkins, is acquired by private equity-backed Logicbroker in a deal that could already be announced.
What is Virtualstock
Virtualstock specializes in so-called "dropshipping", where retailers are connected to suppliers to meet orders online. The British company was founded in 2004 and processes more than eight million orders each year with a gross goods value of over 2 billion GBP. B&Q and Currys also count among the retailers with whom it works.
Shareholders and Investors
The venture capital companies Concept Capital and Eight Peaks, as well as Mr. Jenkins, are among the shareholders of Virtualstock. Logicbroker is supported by K1 Investment Management, a private equity company based in California.
The Combined Company
The combined company will have a network that consists of more than 15,000 retail and brand partners worldwide, according to a person who comes close to the deal. The conditions of the transaction could not be determined on Monday. Virtualstock rejected a statement.
