GigaCloud Technology Inc has announced entering into a definitive Share Purchase Agreement to acquire 100% equity of New Classic Home Furnishings, Inc.
The total consideration for the acquisition is $18 million on a debt-free basis, including a post-close earn-out, funded from GigaCloud's existing cash on hand.
The transaction, approved by the Board of Directors, is expected to close on January 2, 2026, subject to customary closing conditions.
Acquisition Deal
GigaCloud to acquire 100% equity of New Classic Home Furnishings, Inc for $18 million.
Funding Source
The acquisition will be funded from GigaCloud's existing cash on hand.
Approvals
Board of Directors has unanimously approved the acquisition transaction.
- The acquisition enhances GigaCloud's position in the large parcel merchandise B2B technology solutions market.
- This move is aligned with GigaCloud's strategy to expand its offerings and strengthen its global marketplace presence.
The acquisition of New Classic Home Furnishings marks a significant milestone for GigaCloud Technology Inc, consolidating its position in the global B2B technology solutions sector.