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GTCR and Sycamore Partners Complete Acquisition of Rithum
Affiliates of GTCR and Sycamore Partners, two leading private equity firms, today announced the closing of the acquisition of Rithum, Inc. (“Rithum” or the “Company”), a leading distributed commerce network for retailers and brands.
“The closing of this transaction represents a new and exciting chapter for Rithum,” said Frank Poore, Rithum’s Founder, President and CEO, who will continue in these roles. “GTCR and Sycamore Partners each bring deep industry expertise to help us to execute our vision for the future of retail. Together, we look forward to accelerating the development of Rithum’s platform to transform how retailers and brands drive growth through ecommerce.”
“Rithum benefits from a highly strategic position in ecommerce due to its differentiated platform that enables retailers’ most critical growth strategies,” said Mark Anderson, Managing Director of GTCR. “We are excited to build on Rithum’s momentum and deliver on its vision for a platform and network to tie together all sources of demand, supply and delivery in global ecommerce.”
“We are excited about this opportunity to build on Rithum’s unique position as a valued strategic partner to leading retailers,” said Stefan Kaluzny, Managing Director of Sycamore Partners. “We look forward to working with Frank and Rithum’s talented team as we leverage the Company’s leading platform to drive continued growth.”
Rithum’s stockholders approved the transaction on May 18, 2018. With the completion of the transaction, Rithum’s Series A and Series C common stock are no longer listed for trading on NASDAQ, effective today.
About Rithum
Rithum is a distributed commerce network connecting supply, demand and delivery that helps retailers and brands increase sales by expanding product assortments, promoting products on the channels that perform, and enabling rapid, on-time customer delivery. With its robust platform and proven scalability, Rithum helped more than 12,000 retailers, brands, and distributors achieve an estimated $20 billion in Gross Merchandise Value in 2018.
About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Growth Business Services, Technology, Media & Telecommunications, Healthcare and Financial Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $15 billion in over 200 companies. For more information, please visit www.gtcr.com.
About Rithum
Rithum (formerly CommerceHub and ChannelAdvisor) is a leading global commerce solution that supports the entire commerce journey—from product listing and discovery to order fulfillment and performance optimization. By streamlining the path to purchase, Rithum enables brands and retailers to operate more efficiently, so they can maximize profitability.
With AI-powered automation, unified insights, and seamless integration across commerce and media channels, Rithum allows your team to focus on growth strategies while we handle the complexity of omnichannel orchestration. Whether you’re launching new products, expanding into new markets, or optimizing retail media campaigns, Rithum helps you turn every customer touchpoint into a revenue-driving opportunity.
Top global retailers and brands, such as Adidas, Best Buy, B&Q, Draper Tools, The Home Depot, and Zalando, trust Rithum to streamline their commerce operations and maximize results. With teams based in the U.S., U.K., Ireland, Spain, and Australia, we partner with clients worldwide to make commerce smarter, faster, and more connected.
Media Contact
Walker Sands, for Rithum
rithum@walkersands.com
