Wednesday, August 2, 2023

Costco acquires last-mile specialist Innovel for $1 billion

Here is the article. 

Boosting its last-mile capabilities, Costco Wholesale Corp. has bought third-party delivery and logistics provider Innovel Solutions for $1 billion in cash.

In announcing the deal on Tuesday, Costco said the transaction has been completed. Hoffman Estates, Ill.-based Innovel was a subsidiary of Transform Holdco LLC, the operator of Sears and Kmart stores.

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