Bids Due June 15, 2023; Auction To Be Held June 21, 2023
NEW YORK, May 31, 2023 /PRNewswire/ — Hilco Streambank announced it is seeking offers to acquire the intangible assets associated with bulk-quantity consumable products e-commerce retailer Boxed*com. The assets for sale include its domain name, customer data, trademarks including private label brand Prince & Spring, social media accounts, and related assets.
Bids are due on or before June 15, 2023 at 5:00 p.m. (ET), and an auction will be conducted on June 21, 2023. There is an opportunity to serve as a “stalking horse” bidder.
Founded in 2013, Boxed provided B2C and B2B customers with direct delivery of bulk pantry household and office essentials without the requirement of a membership or subscription fee. Gross Merchandise Value (“GMV”) totaled $189 million in 2022. In addition to the nationally recognized branded products, Boxed.com developed and cultivated its own unique, loyalty-building private label brand, “Prince & Spring”, which generated approximately $25 million in GMV.
Hilco Streambank Senior Vice President Richelle Kalnit commented, “Boxed resonates with both business-to-business (B2B) and business-to-consumer (B2C) customers, offering them the convenience of bulk household essentials delivered to their door, without a membership fee.” Kalnit continued, “This offering resonated so deeply with the customer that the brand recently expanded to offer a B2C premium subscription loyalty program, BoxedUp, garnering approximately 32,000 members and generating $21M in GMV in 2022. Coupled with its one-hour delivery service, Boxed Market, the company’s intangible assets position a buyer favorably for growth.”
Interested parties should click here for additional information or contact Hilco Streambank directly.
The sale of the assets will take place in the context of the company’s chapter 11 bankruptcy proceeding and is subject to bankruptcy court approval. The sale of the Boxed.com domain name is subject to definitive documentation.
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 transactions, 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 equity investments.
SOURCE Hilco Streambank
