Boxed.com Acquired by MSG Distributors, Inc.; A New Chapter Begins for Membership-Free Wholesale Retailer

FARMINGDALE, N.Y., Aug. 18, 2023 /PRNewswire/ -- MSG Distributors, Inc. ("MSG") is proud to announce that our acquisition of Boxed.com and other various intellectual property portfolios and affiliates (collectively, "Boxed") in an all-cash transaction has been completed.

MSG is a regional distributor of consumables and household essentials and services B2B accounts by way of its strategically located distribution and fulfillment centers across the United States. MSG shares Boxed's long-standing commitment to providing exceptional products for businesses and consumers, and will work tirelessly to ensure that MSG continues to serve Boxed customers, vendors, and brands with dedication and commitment they have come to love and expect from this iconic brand.

In speaking about the acquisition, Mark Gadayev, MSG's President, said, "This acquisition strengthens our inorganic growth strategy and diversifies our distribution models nationwide. The loyalty and trust that customers and brands have in Boxed is priceless, and we are committed to continue this model of offering bulk-sized products to customers at wholesale prices."

MSG's existing infrastructure makes it the ideal choice to revitalize boxed.com. Under MSG's new ownership, Boxed loyal customer base will benefit from the expeditious delivery services (i.e., next day delivery) for the brands they love as well as access to a catalog of new items and brands that meet as many of their grocery and home good needs as possible. For vendors and brands, MSG is excited to welcome back established household brands and welcome-in new up and coming brands to the front doors of millions of Boxed loyal customers and potential customers.

"In synergy with this acquisition, MSG will further enhance its capacity for processing and distribution to Boxed customers nationwide. In conjunction with our growing operations and patented innovations for distribution and warehouse management, the future of Boxed.com is bright, and the team at MSG is committed to ensuring that Boxed.com remains the go-to destination for customers seeking quality brands, and exceptional customer service," continued Gadayev.

Yuabov Law Group PLLC served as legal advisor to MSG, and Potter Anderson & Corroon LLP served as legal advisor to Boxed, with Hilco Streambank overseeing the sale.

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About MSG Distributors, Inc.

Established in 2003, MSG is a privately held regional distributor in the United States. With distribution facilities across New York, Florida, Texas and California, MSG's mission is twofold; firstly, to bridge the gap between manufacturers, retailers, and consumers and secondly, to provide products, values and experiences in an environmentally conscientious way.

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Forward-Looking Statement

The forward-looking statements included in this press release are made only as of the date of this release, even if the press release is subsequently made available by MSG on its website or otherwise, and except as otherwise required by federal securities law, MSG does not have any obligation to publicly update or revise any forward-looking statements to reflect new information or subsequent events or circumstance.

SOURCE MSG Distributors, Inc.