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Founded in 2013, Boxed*com provided business-to-consumer and business-to-business customers with direct delivery of bulk pantry household and office essentials without the requirement of a membership or subscription fee. Gross Merchandise Value (“GMV”) totaled $189 million in 2022.  In addition to the nationally recognized branded products, Boxed*com developed and cultivated its own unique, loyalty-building private label brand, Prince & Spring, which generated approximately $25 million in GMV.  The offering resonated so deeply with the customer that the brand had recently expanded to offer a B2C premium subscription loyalty program, BoxedUp, garnering approximately 32,000 members and generating $21M in GMV in 2022.

The assets for sale included the domain name, customer data, trademarks, social media accounts and software which supported Boxed Market, the brand’s one-hour delivery service.

Hilco Streambank conducted a sale process as part of the company’s chapter 11 case.  The transaction generated substantial interest, with more than 25 parties having entered the data room.  We assisted the company in negotiating and signing a stalking horse agreement, and then engaged in robust efforts to top the stalking horse bid.  Following an auction which generated sale proceeds in excess of 3 times the stalking horse bid amount, Hilco Streambank assisted the company in closing a sale in August 2023.

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