London-based Olsam Group, an e-commerce platform, announced that it has acquired Amsterdam-based Dwarfs, an e-commerce aggregator. However, the exact amount has not been disclosed.
Following the acquisition, the unified entity — Olsam Group, will receive an enlarged credit facility to pursue strategic acquisitions.
Founded by Demian Beenakker and Bar Urlings, Dwarfs invests in online stores with revenues ranging from €0.5M to €20M.
The Dutch company claims to be the first e-commerce scaleup in the Netherlands aiming to acquire and consolidate online stores with rapid growth on the bol.com partner platform (LVB – Logistics via bol.com) and, in some cases, internationally through Amazon (FBA – Fulfillment by Amazon).
The company is active in the field of home, garden, and kitchen (Garden & Outdoor), tools (Tools & Home Improvement ), and pets (Pet Supplies ). It does not focus on sellers who trade in products that have high return flows (such as fashion and lifestyle) and that are sensitive to maintenance or repair (such as electronics, smart homes, and computers).
Demian Beenakker, founder of Dwarfs says, “We are thrilled to combine forces with Olsam Group and to continue building world class omnichannel brands. Together we have a mission of becoming one of the world’s leading consumer product companies. Our talented team with skills across Bol.com and other leading European platforms are excited to continue expanding our portfolio across numerous distribution channels.”
The combined business’s operations will be headquartered in London under the direction of Olsam, with Sam Horbye and Ollie Horbye, co-founders of Olsam Group, serving as Co-CEOs.
Olsam Group plans to operate a range of top-rated e-commerce brands, to surpass $100 million in annual revenue by 2024.
“The combined business has the technology, expertise, and a wealth of data that will enable us to identify emerging consumer trends, rapidly test and iterate product ideas, and fulfill demand across Europe and North America,” adds Beenakker.
The acquisition
This acquisition will strengthen Olsam’s expertise in operating, acquiring, and scaling e-commerce brands, including extensive experience in selling on some of the world’s leading platforms besides Amazon.
The new business will make use of Olsam’s consolidated worldwide supply chain base, Amazon trading knowledge, and internationalisation expertise. It will enable them to bring brands from the US to Europe while utilising an advanced data and analytics platform.
Dwarfs, on the other hand, will contribute its expertise in new product development and its deep operational knowledge trading on Bol.com and other leading European marketplaces.
Olsam Group: High-growth e-commerce platform
Olsam Group is a high-growth e-commerce platform that helps independent brands achieve profitable growth with the funding, tools, and expertise to succeed on digital marketplaces, globally.
The company is actively seeking to partner with exceptional entrepreneurs who are in search of a trustworthy home for their businesses.
They aim to improve and expand the product catalogue of these businesses into millions of homes globally.
Sam Horbye, Co-Founder of Olsam Group and Co-CEO of the combined company says, ‘’The union of Dwarfs and Olsam Group is a great match: a shared vision of building a marketplace-first e-commerce platform, strong cultural alignment, complementary capabilities and a desire to swiftly test and refine product concepts to launch new products. This acquisition not only strengthens our presence in the BENELUX region but also adds valuable omni-channel capabilities and insights to our team.”
“We believe that by combining our expertise in Amazon with their deep understanding of Bol.com, and best-in-class new product development capabilities, we will unlock new growth opportunities and provide even greater value to our customers. By leveraging our combined strengths, Ollie and I are convinced we are well-positioned to drive further consolidation in the industry,” adds Horbye.
