Pharmapacks, LLC reported a strategic investment of over USD 250 Million from The Carlyle Group (NASDAQ: CG), a global investment firm to accelerate the company’s growth. After the investment, Pharmapacks will be valued at approximately USD 1.1 Billion.
“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.”
“We’re thrilled to partner with another founder-led growth company, leveraging the global resources of the Carlyle platform to support Pharmapacks’ acceleration,” said Jay Sammons, Carlyle’s Head of Global Consumer, Media & Retail. “We are focused on identifying companies that are growing significantly faster than the market and benefiting from strong secular tailwinds. As a company sitting at the cross section of a number of attractive trends, including the massive and rapid expansion of ecommerce, we have strong conviction in Pharmapacks’ ability to achieve sustainable growth.”
“We’re excited to partner with Andrew and the Pharmapacks management team to execute a multi-dimensional growth strategy for the Company,” said Yue Bonnet, a Principal specializing in Consumer, Media & Retail at Carlyle. “We believe there are significant opportunities to support the Company’s value creation plans by helping to rapidly increase the number of consumer brand partners, building out the data and analytics platform and increasing capacity through additional warehouse expansion.”
J.P. Morgan served as lender and advisor to the company.