Done Deal: Boxed.com acquired

Boxed.com is back in business.

MSG Distributors announced it has completed its acquisition of Boxed.com and other various intellectual property portfolios and affiliates (collectively, "Boxed") in an all-cash transaction.  The price of the deal was not revealed.

Boxed was founded in 2013 as an online competitor to membership warehouse clubs, selling  bulk sizes of pantry items and other everyday essentials to consumers and businesses without the requirement of a membership fee. In April, the company filed for bankuptcy, with plans to liquidate its retail business. In June, Hilco Steambank said it was seeking offers to acquire the “assets” of Boxed Inc.

MSG is a regional distributor of consumables and household essentials, and services B2B accounts by way of its  distribution and fulfillment centers across the United States. The company said it shares Boxed's long-standing commitment to providing exceptional products for businesses and consumers, and will work to serve Boxed customers, vendors, and brands with the “dedication and commitment they have come to love and expect from this iconic brand.”

"This acquisition strengthens our inorganic growth strategy and diversifies our distribution models nationwide,” said Mark Gadayev, president, MSG . “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."

Under its new ownership, Boxed’s customer base will benefit from the expeditious delivery services (i.e., next day delivery) for the brands they love as well as access to a catalog of new items and brands that meet as many of their grocery and home good needs as possible, the company said.

For vendors and brands, MSG will  welcome back established household brands and as well bring in new up and coming brands to Boxed customers.

"In synergy with this acquisition, MSG will further enhance its capacity for processing and distribution to Boxed customers nationwide. 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," continued Gadayev.

Yuabov Law Group PLLC served as legal advisor to MSG, and Potter Anderson & Corroon LLP served as legal advisor to Boxed. Hilco Streambank oversaw the sale.

Established in 2003, MSG is a privately held regional distributor in the United States, with distribution facilities across New York, Florida, Texas and California.