Hilco Merchant Resources (HMR) announced it has acquired a leading online retail and daily deal e-commerce brand – Deal Genius.
HMR said Deal Genius was launched as a flash retail sales web business in 2004 and has become one of the leading online e-commerce sites in North America with millions of retail transactions completed. The site delivers daily deals on brand name home goods, apparel, consumer electronics, pet supplies and unique one of a kind merchandise.
The company was founded by CEO, Chris Matsakis who will continue in that role going forward. As a result of Chris’ leadership, Deal Genius is one of the top rated and reviewed digital retailers available to consumers.
Michael Keefe, CEO of HMR indicated that the acquisition of this recognized e-commerce business delivers upon an important part of the retail disposition firm’s continued growth and expansion plans.
Keefe said, “This is a strategic move for HMR and a transaction that we’ve been evaluating for some time while reviewing whether to build out or to buy an e-commerce platform to complement our other successful sales channels. Deal Genius provided us with both an immediately recognized e-commerce brand name, and the opportunity to tap into the knowledge and expertise of the innovative management team that built the successful online retail business from scratch.”
Keefe indicated that Deal Genius will continue to be managed as an independent business within HMR, the retail disposition firm and unit of Hilco Global.