GigaCloud Technology Inc Enters Definitive Share Purchase Agreement to Acquire New Classic Home Furnishings

Core Viewpoint - GigaCloud Technology Inc has announced a definitive Share Purchase Agreement to acquire 100% of New Classic Home Furnishings, Inc for a total consideration of $18 million on a debt-free basis, which includes a post-close earn-out [1][2]. Group 1: Acquisition Details - The acquisition will be funded from GigaCloud's existing cash on hand [2]. - The transaction has been unanimously approved by GigaCloud's Board of Directors [2]. - The expected closing date for the transaction is January 2, 2026, pending customary closing conditions [2]. Group 2: Company Overview - GigaCloud Technology Inc specializes in global end-to-end B2B technology solutions for large parcel merchandise [3]. - The company's B2B ecommerce platform, known as the "GigaCloud Marketplace," integrates discovery, payments, and logistics tools into a single platform [3]. - GigaCloud connects manufacturers, primarily in Asia, with resellers in the U.S., Asia, and Europe, facilitating cross-border transactions [3]. - The marketplace was launched in January 2019, initially focusing on the global furniture market and has since expanded into home appliances and fitness equipment [3].