GPI Capital and JPMorgan Chase Bank provided growth financing of up to $100 million to Pharmapacks, an ecommerce enablement platform and retail seller for brands across ecommerce marketplaces.
“Since its founding in 2010, Pharmapacks has achieved significant growth and cultivated extensive partnerships with major brands across ecommerce marketplaces in North America, including Amazon, Walmart, eBay, Google and Facebook,” Andrew Vagenas, CEO of Pharmapacks, said. “We are thrilled that these new relationships with GPI and JPM will provide us with an opportunity to take significant steps to enter the next phase of our growth strategy. GPI constructed a flexible financing which, in conjunction with JPM’s credit facility, will accelerate our brand and inventory investments, enabling us to expand our warehouse footprint to drive greater cost efficiencies and deepen our offerings across all major ecommerce platforms while maintaining the best customer experience.”
GPI and JPM are joining Pharmpacks’ investors, including Reckitt Benckiser (consumer goods company and maker of Lysol), McKesson (healthcare company), SealedAir (packaging company) and the Emerson Group (a consumer products equity organization).
“Andrew and team have built a premier integrated ecommerce enablement platform with deep brand, merchandising, logistics and marketplace expertise,” Khai Ha, managing partner at GPI, said. “We are excited to contribute to Pharmapacks’ next phase of growth and its further commitment to partner brands. This investment builds upon GPI’s extensive consumer internet expertise and our ability to create flexible financing solutions. We believe that Pharmapacks is well positioned for success.”
GPI Capital is an alternative investment firm that provides strategic capital and partners with technology, consumer and industrial companies.
