Private equity firms Sycamore Partners and GTCR announced on Tuesday plans to acquire e-commerce services vendor CommerceHub Inc. for $1.1 billion in an all-cash deal. The deal is expected to close in the third quarter of 2018.
CommerceHub is one of the most-used vendors to Internet Retailer’s 2017 Top 1000 merchants in several categories. In 2017, 42 online retailers in the Top 1000 used CommerceHub for comparison engine feeds, 11 retailers used CommerceHub for fulfillment and 43 retailers used the vendor for marketplace management, according to the 2018 Leading Vendors to the Top 1000.
“Our customers rely on CommerceHub as a strategic partner to enable their most critical growth strategies, and we are confident that our relationship with GTCR and Sycamore will accelerate the development of our platform and solutions to enable the future of retail,” Frank Poore, CommerceHub’s founder, president and CEO, said in a release about the acquisition.
CommerceHub says it has more than 11,500 retail, brand and distributor clients.
GTCR has invested more than $15 billion in more than 200 companies. Sycamore Partners’ portfolio includes Belk Inc. (No. 89 in the Top 1000), Coldwater Creek, EMP Merchandising, Hot Topic Inc. (No. 311), MGF Sourcing, NBG Home, Nine West Holdings (No. 215), Staples Inc. (No. 5), Staples’ United States Retail Business, Staples’ Canadian Retail Business, Talbots Inc. (No. 104), The Limited and Torrid.