Carlyle Makes Strategic Growth Investment In Leading Ecommerce Marketplace Enablement Platform And Retail Seller Pharmapacks
Pharmapacks, LLC (“Pharmapacks” or “Company”), a leading ecommerce enablement platform and retail seller for brands across major ecommerce marketplaces, today announced a strategic investment of more than $250 million from global investment firm The Carlyle Group (NASDAQ: CG) to accelerate the Company’s growth plans. The growth investment places Pharmapacks’ enterprise value at approximately $1.1 billion.
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Pharmapacks was founded as a single brick and mortar pharmacy and has since evolved into a platform providing brands with best-in-class ecommerce capabilities. Since 2010, Pharmapacks has cultivated extensive partnerships with consumer brands across ecommerce marketplaces in North America, including Amazon, Walmart, eBay, Target, Google and Facebook.
Powered by its proprietary platform, Pharmapacks is trusted by millions of customers to provide for their daily needs. After reaching over $250 million in sales in 2019, Pharmapacks is on a current run rate to achieve approximately 60% year-over-year growth and, with the opening of an additional 230k square foot replenishment center this month, Pharmapacks is expected to fuel accelerated growth in Q4.
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“Pharmapacks is experiencing unprecedented growth with massive market support and highly attractive industry dynamics,” said Andrew Vagenas, Chief Executive Officer of Pharmapacks. “We are thrilled that our partnership with Carlyle, a world-class investment firm with extensive connectivity, data and global resources, will provide us with an opportunity to take significant steps to enter the next phase of our growth plans.”
The investment in Pharmapacks is a continuation of Carlyle’s long-term global commitment to Consumer, Media & Retail in which it has invested more than $21.5 billion of equity since inception. Equity capital for the investment came from Carlyle Partners VII, an $18.5 billion fund that makes majority and strategic minority investments primarily in the U.S. in targeted industries, including Consumer, Media & Retail.
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