GigaCloud Technology has completed the acquisition of New Classic Home Furnishings, a Fontana, California-based company with over 1,000 retailer customers and 2,000 SKUs. The $18M deal adds a well-established wholesale business to GigaCloud’s ecosystem, funded by existing cash and unanimously approved by the Board of Directors.

The acquisition of New Classic Home Furnishings by GigaCloud Technology strengthens the company’s position in the market, adding a broad portfolio of products and expanding retailer relationships. The $18M deal, funded by existing cash on hand, includes a post-closing earn-out and was approved by the Board of Directors.

Read more at Yahoo Finance: GigaCloud completes acquisition of New Classic Home Furnishings