Bids Due November 14, 2022; Auction to be Held November 16, 2022
NEW YORK, Nov. 3, 2022 /PRNewswire/ -- Hilco Streambank ( www.HilcoStreambank.com ) announced that it is seeking offers to acquire the software platform and intangible assets of Packable Holdings, LLC ("Packable," "Pharmapacks" or the "Company"). Packable is a technology-driven eCommerce marketplace enablement platform providing consumer brands, distributors and emerging digitally native brands with the connections, insights, and services needed to enable and accelerate sales growth across multiple online marketplaces simultaneously.
Bids are due on or before November 14, 2022. Hilco Streambank will conduct an auction on November 16, 2022. Interested parties may click here to learn more or can contact Hilco Streambank.
The Company was the #1 third-party seller on Amazon in North America, and its software platform enabled more than 75 million transactions on 8 marketplaces, including Amazon, Walmart, eBay, and Target, generating approximately 2 million reviews across all marketplaces and more than $425 million in revenue in 2021.
Packable built its operations around its proprietary software platform, dubbed the "Brain". Developed in-house, the platform provides integrated, automated eCommerce services such as inventory onboarding, data flow management, shipping and vendor management, algorithmic pricing, product bundling, data analytics and fulfillment. At its peak, the Brain facilitated more than 1.8 million orders per month, across more than 31,000 SKUs.
Packable invested in more than two dozen digitally native emerging brands, and its positions in these companies are also available for sale.
Hilco Streambank Senior Vice President Richelle Kalnit commented, "There is a tremendous amount of competition in the eCommerce ecosystem, particularly in attempting to achieve a cost-effective and scalable data-driven edge against competition across multiple online marketplaces. Packable's integrated, multiplatform software solution provides the possibility to achieve that competitive edge and would enable a multi-marketplace brand or distributor to quickly jump ahead of its competition in the market." Kalnit continued, "Packable's interest in numerous companies owning digitally native brands should also be of interest to brand aggregators, as these brands are well-positioned on Amazon and other marketplaces."
Available assets include Packable's software platform, trademarks, domain names, majority interests in two consumer products brands, and minority interests in more than 20 emerging, digitally native brands. The Company also is currently selling other assets, including inventory, FF&E, and its interests in its distribution centers.
Packable is operating as a debtor in possession in a chapter 11 case pending in the United States Bankruptcy Court for the District of Delaware.
Gabe Fried
CEO
617.458.9355
Richelle Kalnit
SVP
212.993.7214
Jordon Parker
VP
719.821.0894
About Hilco Streambank: Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Having completed numerous transactions including sales in publicly reported cases, private transactions, and online sales through IPv4.Global, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet, and telecom communities. Hilco Streambank is part of Northbrook, Illinois based Hilco Global, the world's leading authority on maximizing the value of business assets by delivering valuation, monetization, and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, real estate, and strategic capital investments.
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SOURCE Hilco Streambank