Berlin-headquartered SellerX, which operates as a multi-brand Amazon seller, is set to acquire Elevate Brands, an Austin TX based counterpart. This will result in a business with a combined total of 80 Amazon brands which between them have 40,000 products.
SellerX co-founders Philipp Triebel and Malte Horeyseck will continue to lead the combined business as co-CEOs with Elevate Brands’ co-founder and CEO Ryan Gnesin becoming president of the new company, with co-founder and chief M&A officer Jeremy Bell becoming the global head of M&A. Rob Bell, Elevate’s chief growth officer, becomes head of global business development.
The deal is expected to close this month, June 2023.
Philipp Triebel, SellerX co-CEO said in a statement: “Elevate Brands and SellerX are a perfect match: a strong cultural fit, a shared vision, and complementary capabilities.
“This acquisition combines our know-how and diversified portfolios of strong brands with a market-leading technology platform and strong operational infrastructure. By leveraging our combined strengths, I am convinced we are well-positioned to drive further consolidation in the industry.”
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