Evenflow Brands, a third-party online seller aggregator, has acquired four consumer brands in India as part of a larger strategy to significantly expand its reach, portfolio, and demand.
The acquisition includes two sports and fitness brands, Vifitkit and Yogarise, as well as Frenchware, a kitchen label, and Cingaro, a gardening brand, all with annual run rates ranging from $500k to $2 million. The founders of Frenchware and Cinagro will also join Evenflow as consultants as part of the deal.
“We are looking to triple the growth for each of these brands in the next six months. We took our time to build our playbooks and formulate our expansion plans. At present, all four brands are Amazon only but we are in the process of onboarding them on other marketplaces including Flipkart, Meesho and Jiomart” said Utsav Agarwal, co-founder & CEO at Evenflow.
Evenflow paid an upfront fee based on EBITDA multiple valuations and performance earn-outs spread over three years to acquire all of these brands. Founded in 2021 by former Uber executives Utsav Agarwal and Pulkit Chhabra, the e-commerce rollup has acquired seven brands in the last three months, including the latest acquisitions.
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