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Acquisition
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E-retailer Packable will go public through a merger with Highland Transcend Partners I Corp., a special purpose acquisition company. Packable is the parent of Pharmapacks, the top seller on Amazon’s third-party marketplace.
Carlyle Group invested more than $250 million in Pharmapacks in November.
The deal will value the combined company at $1.55 billion.
Pharmapacks began as a brick-and-mortar pharmacy business in 2010, and has since grown to become the No. 1 Amazon seller in the U.S., based on the number of consumer reviews, according to research firm Marketplace Pulse. The company offers a range of health, personal-care and beauty products across several online marketplaces.
E-retailer Packable will go public through a merger with Highland Transcend Partners I Corp., a special purpose acquisition company. Packable is the parent of Pharmapacks, the top seller on Amazon’s third-party marketplace.
Carlyle Group invested more than $250 million in Pharmapacks in November.
The deal will value the combined company at $1.55 billion.
Pharmapacks began as a brick-and-mortar pharmacy business in 2010, and has since grown to become the No. 1 Amazon seller in the U.S., based on the number of consumer reviews, according to research firm Marketplace Pulse. The company offers a range of health, personal-care and beauty products across several online marketplaces.