GigaCloud completes acquisition of Noble House

GigaCloud Technology announced that it has completed the previously announced asset acquisition of Noble House Home Furnishings, a leading B2B distributor of indoor and outdoor home furnishings, for approximately $85 million, subject to customary purchase price adjustments. The acquisition is funded entirely with cash on hand. The assets acquired from Noble House include, but not limited to, inventory, warehouse leases, websites and domain names, trademarks, tradenames, patents, customer contracts, sales channels and other assets. “We could not be more thrilled to complete our asset acquisition of Noble House, which aligns with our core strategy of building a diverse, large-scale B2B marketplace with high-quality, differentiated products,” said Larry Wu, Founder, Chairman, and Chief Executive Officer of GigaCloud. “The acquisition adds significant warehouse space, exceeding 2.3 million square feet, and strengthens our distribution, inventory, and customer base. We believe by integrating our B2B marketplace with Noble House’s product design and quality control capabilities into our offerings, the growth of our marketplace will accelerate. Transactions in our marketplace empower Noble House suppliers to boost margins through our supplier-fulfilled retailing business model.”