NEW YORK, Oct. 04, 2022 (GLOBE NEWSWIRE) — Aterian, Inc. AFTER (“Aterian” or the “Company”) today announced the completion of the previously announced acquisition of the assets of a brand in the Health and Wellness category. The Company believes the acquisition will be profitable; Expansion and securing of market shares in the category of an existing portfolio brand. The exact terms of the acquisition were not disclosed.
Yaniv Sarig, Co-Founder and Chief Executive Officer, commented: “We are pleased to continue our M&A strategy despite the difficult environment. This small acquisition builds on and strengthens our market share in a particular product category.” Mr. Sarig continued, “We believe our patient approach to our M&A strategy over the past year is paying off as we begin to see a normalization in acquisition costs see. Given this trend, the recent strengthening of our balance sheet and the decline in container shipping costs, we continue to believe we are well-positioned to drive growth and margin expansion into 2023.”
About Aterian, Inc.
Ateria, Inc. AFTER is a leading technology-enabled consumer products platform that builds, acquires and partners with world-class e-commerce brands using proprietary software and an agile supply chain to create best-selling consumer products. The company’s cloud-based platform, Artificial Intelligence Marketplace Ecommerce Engine (AIMEE™), uses machine learning, natural language processing and data analytics to power the management of products at scale across the world’s largest online marketplaces with a focus on Amazon, Shopify and to optimize Walmart. Aterian has thousands of SKUs across its many owned and operated brands and sells products in multiple categories including home and kitchen appliances, health and wellness, beauty and consumer electronics.
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