Costco has announced a deal to purchase logistics company Innovel Solutions from Transformco for $1B.
“We have had a great relationship with Innovel and share the philosophy of taking care of our members. We believe the acquisition will allow us to grow our ecommerce sales of ‘big and billy’ items at a faster rate.”
Craig Jelinek, Costco CEO
The deal is expected to improve Costco’s last-mile delivery service, a critical capability as traditional retailers are being forced to shift towards e-commerce to survive and grow. Innovel will continue to assist existing third party customers under Costco’s leadership.