ID Logistics is acquiring the assets of Jagged Peak, a logistics services company headquartered in Tampa, for $15 million.
Jagged Peak, which specializes in e-commerce, multi-channel and consumer products, had about $80 million in revenue in 2018 and employs about 200 people. Based in the Rocky Point area, the company has two St. Petersburg distribution centers, one at 1701 3rd Ave. S., just west of Tropicana Field, and the other at 2007 Gandy Blvd. N.
The company was publicly traded until 2016, when it was bought by Singapore Post Limited.
The new buyer, ID Logistics, is based in Paris. Acquiring Jagged Peak allows ID Logistics to expand the scope of its operations in the United States, paving the way for new organic and external growth opportunities, the company said in a news release.
Jagged Peak has a unique IT system that allows it to prepare orders and distribute them throughout the United States, either on its own or through a network of partners, the news release said. This integrated management tool includes an order management system, a warehouse management system and a transport management system, which lets key e-commerce clients distribute their products throughout North America in record time.
Much of Jagged Peak’s revenue comes from Nespresso, a Swiss company and an operating unit of the Nestlé Group that makes coffee systems and single-serve pods. Nespresso is a long-standing ID Logistics’ customer in Europe and “is delighted to be able to rely on ID Logistics’ expertise and to extend its partnership to the United States, which is one of its fast-growing markets,” the news release said.
“Beyond the American market, a country with very strong potential for our activity, this operation demonstrates the confidence and satisfaction of Nespresso, one of our long-standing customers who entrusts us with the management of its logistics flows in the United States,” said Eric Hémar, chairman and CEO of ID Logistics.
The deal is expected to close before the end of 2019, pending regulatory approval.