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.
Source: Chain Store Age
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