1847 Goedeker Inc (NYSEAMERICAN: GOED) Enters Purchase Deal to Acquire an Appliance Retailer

1847 Goedeker Inc (NYSEAMERICAN: GOED) has struck a definitive purchase agreement with a Florida premium and luxury appliance retailer. The company will be counting on the strategic acquisition to expand its business footprint in Florida by making more investments.

Moore speaks out

1847 Goedeker Inc signs the deal as part of its efforts to strike solid and meaningful business relationships with its customers. Goedekers’ CEO Doug Moore supports the deal hoping that it will enable them to generate more revenues.

Moore outlines, “Consistent with our long-term strategy, this transaction serves as a steppingstone for our company to expand its reach in the Florida and southeastern U.S. markets, and change the way Americans purchase appliances across the country.”

Goedeker says that it will continue making more investments to ensure that it adds more fulfillment centers across the nation as part of its operational expansion plans. It projects that the transactions might come to a close by the third quarter of 2021, outlining that they will be subject to the customary closing conditions and regulatory approvals.

Goedeker looking forward to brighter times ahead

According to the analysts, the company’s acquisition of Appliances Connection is a step in the right direction. It marks the establishment of a mega pure-play online retailer of household appliances in the United States. 

Goedeker continues to mobilize its resources into its warehouse fulfillment centers in the Midwest and Northeast, something that makes it scale higher as a leading nationwide omnichannel retailer. In addition, it seeks to continue making impressive changes to enable it to grow as one-stop shopping for national and global brands.

It was recently that the company reported its continued growth in revenues. It’s May 2021 performance was impressive, considering its 41.9% increase in revenue. It was a rise from its performance in May 2020 stood at $44.3 million. Goedeker believes that the latest deal will help it succeed in generating even higher revenues in the future.

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