The acquisition will help Olsam scale globally as it leads the way in market consolidation
3 May 2022, London: Olsam Group (“Olsam” or “the Company”), which acquires and scales category leading e-commerce businesses, has completed the acquisition of MarketFleet, a US-based incubator and aggregator of e-commerce brands. This is the second “aggregation of aggregators” by Olsam – the first being Flywheel Commerce in November 2021.
MarketFleet was founded in 2015, by a group of ecommerce experts including serial entrepreneur Chris Friedland, with the thesis around creating brands in markets where customers were being overcharged. With a focus on outdoors categories, MarketFleet has 11 brands that will be combined with Olsam, alongside its entire operational team who collectively bring on an additional 15 years+ in Amazon FBA and ecommerce.
The acquisition complements Olsam’s existing expertise following the recent arrival of Steven Wait, previously Head of UK eCommerce at Mountain Warehouse, a UK based outdoors retailer and the acquisition of Colapz, a camping accessories brand previously featured in Dragons Den.
The consolidation of the aggregator market is still relatively young, though now building up pace. This is yet another example of market consolidation in the Amazon aggregator space, in which Olsam continues to lead the way. Those that can leverage scale and operational capabilities to grow not just via acquisitions, but organically as well through international expansion, paid social, affiliate marketing and D2C, are more likely to succeed in the long run.
Chris Friedland, co-founder of MarketFleet, said: “We started MarketFleet under the premise that there was an opportunity to manufacture high quality products while eliminating the costs associated with the supply chain between the factories and our customers. Olsam is the perfect company to take MarketFleet forward. They offered fair value for our business and carried over the talented team we have built over the years.”
“MarketFleet entered the e-commerce space 8 years ago as an incubator for brands. We have always aimed to cut out the fat that pads the retail cost of other online sellers and remove all supply-chain parties between us and our customers. Olsam is the perfect company to take MarketFleet forward. They offered fair value for our business and carried over the small, but talented team we have built over the years.”
Sam Horbye, Co-founder of Olsam and former Business Marketplace Manager at Amazon UK, said: “The acquisition of the brands within MarketFleet represents another significant milestone for Olsam as we continue to deepen our presence in the US and lead the way in the consolidation of the ecommerce space. Olsam’s operational expertise and successful track record continues to attract strong deal flow from the US and we look forward to working with many more US based sellers and aggregators seeking an exit.”
Steven Wait, Director of Ecommerce at Olsam, said: “The whole Olsam team has thoroughly enjoyed getting to know Chris and the MarketFleet team during the acquisition process and we’re delighted that they will all be moving over with the business. We see enormous growth potential in the camping and outdoors space, in which MarketFleet has a strong presence.”