Boxed.com Gets New Owner
MSG Distributors, Inc. has acquired Boxed.com and other various intellectual property portfolios and affiliates in an all-cash transaction.
Based in Farmingdale, N.Y., MSG is a regional distributor of consumables and household essentials and services B2B accounts through its strategically located distribution and fulfillment centers across the United States.
In speaking about the acquisition, Mark Gadayev, MSG's President, said, "This acquisition strengthens our inorganic growth strategy and diversifies our distribution models nationwide,” said Mark Gadayev, MSG's President. “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."
In early, 2023, Boxed filed for bankruptcy and has since been in the process of winding down operations. However, Boxed is now under new ownership that is working on relaunching soon.
MSG officials said Boxed’s customers will again have access to the retailer’s familiar brand while also being able to choose from a catalog of new items and brands in the grocery and home goods segments. It was not immediately clear if Boxed’s private label product assortment sold under the Prince & Spring brand would continue to be part of the assortment going forward.
As part of an FAQ on the Boxed website, the company said shoppers will find many of their favorite products on the new Boxed website as it launches. It recommends subscribing to its mailing list to be the first to hear about new products.
"In synergy with this acquisition, MSG will further enhance its capacity for processing and distribution to Boxed customers nationwide,” said Gadayev. “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.”