New Company is Named The Ambr Group
Suma Brands, a platform for acquiring and scaling Amazon FBA (Fulfillment by Amazon) businesses announced the completion of its merger with D1 Brands, an Amazon FBA acquirer built by Amazon-native third-party sellers. In conjunction with the deal, which represents the first US-based merger in the Amazon aggregator ecosystem, the combined company raised new equity financing to continue consolidating Amazon aggregators.
The combined business, now called The Ambr Group, operates a portfolio of more than 30 businesses generating over $100 million in annual revenue and brings together two complementary teams with deep industry experience. The company comes out of the merger with an efficient organization and unrivaled experience operating, acquiring and scaling omnichannel e-commerce businesses, including decades of selling experience on Amazon. Andrew Savage, Co-Founder and CEO of Suma Brands, will serve as CEO and Yaz Malas, Co-Founder and Co-CEO of D1 Brands, will serve as President.
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Alongside the merger, the company raised a significant amount of additional equity financing from investors including CoVenture, Material, and Pace Capital that together with their $125m credit facility unlocks significant dry powder to continue consolidating other Amazon aggregators.
“We developed a blueprint for future aggregator consolidations by successfully executing the industry’s first US-based merger,” said Yaz Malas, President of Ambr. “With the joining of two teams with extensive industry experience and a fresh round of financing, we’re well-positioned to be a leading consolidator of large platforms and we have the playbook to do it efficiently.”
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“Our mission from Day 1 has been to build a platform that elevates marketplace product offerings, extends their reach into new channels, and puts our incredible products into homes all over the globe,” said Andrew Savage, CEO of Ambr. “This merger and financing bring us one step closer to fulfilling that mission by allowing us to accelerate investments in new product development and omnichannel expansion and enabling us to roll additional Amazon product portfolios into our operating platform.”
“The aggregators building on top of Amazon continue to have a compelling opportunity to create and lead multi-billion dollar businesses,” said Ali Hamed, Partner at CoVenture. “With unique expertise from years of experience in the aggregator space, The Ambr Group team is well positioned to operate strategically and be disciplined buyers – we’re excited to be part of their story.”