GigaCloud Technology Inc (Nasdaq: GCT) has acquired New Classic Home Furnishings, Inc., a U.S.-based distributor serving the home furnishings market. The acquisition, completed for $18 million, adds over 1,000 retailer customers and 2,000 SKUs to GigaCloud’s portfolio. The move strengthens GigaCloud’s position in the large parcel commerce sector. The deal was approved by the company’s Board of Directors and funded from existing cash reserves. GigaCloud Technology Inc is a global B2B technology solutions provider focusing on large parcel merchandise. The company’s marketplace connects manufacturers with resellers for cross-border transactions.

Read more at GlobeNewswire: GigaCloud Technology Inc Completes Acquisition of New