Carlyle Group (Nasdaq: CG) has invested $250 million in e-commerce company Pharmapacks. The deal gives the target an enterprise value of $1.1 billion.
Pharmapacks is an online marketplace that sells brands across sites such as Amazon, Walmart, Target, eBay. Pharmapacks had over $250 million in sales in 2019.
“We are focused on identifying companies that are growing significantly faster than the market and benefiting from strong secular tailwinds,” says Jay Sammons, Carlyle’s head of global consumer, media and retail. “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.”