After filing for Chapter 11 bankruptcy protection in April, online wholesale retailer Boxed has been acquired. U.S.-based regional distributor MSG Distributors, Inc. announced this morning its acquisition of Boxed.com and “other intellectual property portfolios and affiliates” in an all-cash transaction. Deal terms were not disclosed. MSG says it will continue to serve Boxed customers, vendors, and brands following the acquisition. Boxed, founded in 2013, aimed to offer consumers an online version of bulk shopping without membership fees. Despite rejecting a buyout offer from Kroger and partnering with Aeon for expansion, Boxed struggled to make the economics of online grocery work. MSG’s plan is to deliver the brands customers loved while providing access to new items and brands in the grocery and home goods space.
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