By: Vicki Young | Link to article
Cash-flush American Eagle Outfitters Inc. is shelling out yet again for a mission-critical supply-chain partner. CEO Jay Schottenstein said the company’s second logistics acquisition in roughly two months is all about enabling “brand success.”
The specialty retailer’s $350 million cash deal for Quiet Logistics, which has fulfilled online orders for M.Gemi, Outdoor Voices and Bonobos, supports the jeans seller’s focus on “agility, speed and diversification,” Schottenstein said in a statement Tuesday. Quiet was owned by Greenfield Partners, a property investment and logistics specialist, and Related Companies LP, a real estate and lifestyle company known for large-scale neighborhood development and the force behind Hudson Yards.
“Quiet Logistics has provided significant benefits to AEO over the past year and we are leveraging our healthy cash position to ensure ongoing advantages,” he said. “Also, as we continue to expand these services to other brands and retailers, we believe the business will scale, generating incremental value for our shareholders.”
The move follows the youth-centric merchant’s August deal for AirTerra, the Nordstrom alum-founded Seattle logistics startup helping mid-tier retailers compete for the last mile against their larger rivals.
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