Pharmapacks Valued at $1.1 Billion After Carlyle Group Investment

▤ Summary

The Bronx pharmacy-turned-digital marketplace received a $250+ million investment from The Carlyle Group yesterday, bringing its valuation to $1.1 billion. Pharmapacks has a 2020 advantage as an online purveyor of all things bathroom medicine cabinet. But it had already generated $250 million in sales last year, through... • Strategic partnerships with a mix of household CPG distributors and emerging brands. Looking ahead…Pharmapacks will use its new backing to expand 1) West Coast logistics and 2) stockpile-able categories like food and pet supplies. CEO Andrew Vagenas predicts the site will reach $1 billion in sales within two years.

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