Stord expands network with AMS Fulfillment purchase
The acquisition bolsters Stord's presence in key East Coast and West Coast hubs while building upon other recent deals.
E-commerce logistics company Stord has made its largest acquisition to date, purchasing rival AMS Fulfillment in a deal valued at nine figures. The acquisition includes 10 warehouses with nearly 1.3 million square feet of storage capacity across Los Angeles, Salt Lake City and Philadelphia, expanding Stord's global network to more than 100 owned or partner locations.
Stord processes over $15 billion in annual gross merchandise value for more than 1,000 e-tailers, many of which are small and medium-sized enterprises. The company aims to compete with Amazon in e-commerce fulfillment and provides turnkey services such as inventory management, order fulfillment and carrier selection for retailers.
Stord has raised significant capital this year, including a $400 million credit facility and $250 million in venture funding, to expand its infrastructure and invest in robotics and artificial intelligence. The acquisition was announced as Stord prepares to enter peak season with increased scale and momentum.
Written by urgent.news from FreightWaves's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Stord acquires e-commerce competitor AMS Fulfillment in large deal freightwaves.com
