Amazon aggregators Branded and Heyday are planning to merge to form a new entity named Essor. The merger comes as the once-booming industry of Amazon seller aggregators faces consolidation pressures. The combined entity is expected to generate $400 million in annual revenue, with talks underway for new debt financing from Apollo Global Management and BlackRock to facilitate further acquisitions. Heyday CEO Sebastian Rymarz conveyed that this merger has been over a year in the making and aims to elevate their brands to new heights. The merger will result in significant layoffs at Heyday, potentially up to 70% of the workforce. Meanwhile, Branded will absorb Heyday’s technology team and several brands including ZitSticka and Boka.
E-commerce, Private Equity,United States, France
https://mergersacquisitions.einnews.com/article/738507700/J2lJ7dk913JcMnwa?ref=rss&ecode=Q1vNcweEggLWKz7L