London-based Olsam Group has purchased competitor Flywheel Commerce in a move that may signal the beginning of a trend toward consolidation in the Amazon aggregator market.
The deal gives the company a strong US base, with Flywheel headquartered in New York City. The five brands under Flywheel bring Olsam’s portfolio to more than a dozen brands in a range of categories, from pet to home and kitchen to sporting goods.
The acquisition of the assets of US aggregator Flywheel Commerce represents a significant milestone for Olsam as we continue to deepen our presence in the US.Ollie Horbye, Co-founder, Olsam
The acquisition will help Olsam, which recently raised $165 million, further extend its footprint globally, in particular across North America. Following completion, the brands of Flywheel Commerce will continue to operate in the US and by leveraging Olsam’s expertise as a UK acquirer, expand them globally, notably into the UK and EU.
Congrats to Ollie Hörbye, Sam Hörbye, Jonathan Greenglass, Joshua Awad.