Society Brands makes first deal with its $204 million in new capital

Well, that didn’t take long.

It was only March 9 when Canton’s Society Brands announced it had secured $204 million in equity and debt to fuel its quest for acquisitions. Two weeks later, and the company has announced its first buy using the new money.

Society, which is built around the strategy of rolling up third-party sellers that use Amazon as their sales platform and to do their fulfillment — sellers known as FBAs, for “fulfilled by Amazon” — announced Thursday, March 24, that it has purchased the Arkansas-based Amazon brand management agency OmniiX.

Terms of the deal were not disclosed.

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Story excerpt provided by Crain’s Cleveland Business.

Written by Dan Shingler.

Originally published March 24, 2022.