The Ambr Group Acquires Profound Commerce
Matt Salzberg joins as CEO, and Dan Epstein joins as CFO.
New York, NY, February 21, 2024 --(PR.com)-- The Ambr Group, a leading platform for acquiring and scaling e-commerce businesses, today announced its acquisition of Profound Commerce, a brand platform with 15 e-commerce brands. Together with Profound, the Ambr Group will now operate a portfolio of 45 brands, generating over $125 million in annual revenue. The acquisition brings together two complementary teams with unrivaled industry experience in acquiring new businesses, growing Amazon-first brands, launching new products, and expanding to new channels.
In addition, Ambr Group today announced the appointment of Matt Salzberg as Chief Executive Officer and Dan Epstein as Chief Financial Officer.
Previously, Matt Salzberg was the founder and CEO of meal kit delivery service, Blue Apron, scaling the company from its inception to $900M of revenue, and taking it public on the New York Stock Exchange. He also co-founded Embark Veterinary, a genetic testing company for dogs, and Material, a venture studio that invested in the Ambr Group. Matt Salzberg joins the Ambr Group's team after having served on its Board of Directors since inception.
“At a time where other aggregators are struggling, Ambr Group is continuing to complete new transactions to gain scale, improve profitability and enhance our balance sheet,” says CEO Matt Salzberg. “Our plan is to continue to grow the company through both disciplined organic execution and additional M&A of other aggregators and smaller assets.”
Dan Epstein joins the Ambr Group, and was previously the CFO and CEO of Rugged Outdoors, a multichannel retailer of leading sports and outdoor brands. During his 13-year tenure, he made significant investments in operations, marketing and IT to support Rugged Outdoor’s growth. Prior to Rugged Outdoors, Dan Epstein was SVP and Controller at Leo Burnett.
“I am excited to be joining the Ambr’s team and believe Ambr is well positioned to take advantage of the opportunities in today’s e-commerce landscape — expanding our omnichannel capabilities & taking advantage of new channels.“ says Dan Epstein, CFO.
Matt Howitt, CEO of Profound Commerce, says, “I couldn’t think of a better home for Profound Commerce. A big part of the reason we selected The Ambr Group as our partner was because of our similarities in culture and strategy, as well as complementary capabilities.”
As part of the transaction, Matt Spiro from Atalaya Capital Management LP will join Ambr’s Board of Directors, with representatives from existing investors, Material, Crossbeam and Pace Capital, along with D1 Brands co-founder Mohammad Usman.
About The Ambr Group
The Ambr Group operates an omnichannel consumer retail platform that specializes in acquiring and growing e-commerce businesses. Our diverse brands include thousands of proprietary products and operate across four main business verticals: 1) Home & Office, 2) Auto & Industrial, 3) Health, Fitness & Wellness, and 4) Crafts, Gifts & Baby. Ambr Group was formed through the mergers of Suma Brands, D1 Brands, Profound Commerce and FBA Capital, each of which were brand platforms themselves, and is backed by leading investors such as Material, Pace Capital, Co-Venture / Crossbeam, and Atalaya. www.theambrgroup.com
About Profound Commerce
Profound Commerce is a privately held, fast-growing brand holding company that buys, launches, and operates a next generation portfolio of consumer products brands. Profound Commerce brands benefit from a superior marketing, operations, and finance platform with seasoned e-commerce hands at its helm. www.profoundcommerce.com
Source The Ambr Group
In addition, Ambr Group today announced the appointment of Matt Salzberg as Chief Executive Officer and Dan Epstein as Chief Financial Officer.
Previously, Matt Salzberg was the founder and CEO of meal kit delivery service, Blue Apron, scaling the company from its inception to $900M of revenue, and taking it public on the New York Stock Exchange. He also co-founded Embark Veterinary, a genetic testing company for dogs, and Material, a venture studio that invested in the Ambr Group. Matt Salzberg joins the Ambr Group's team after having served on its Board of Directors since inception.
“At a time where other aggregators are struggling, Ambr Group is continuing to complete new transactions to gain scale, improve profitability and enhance our balance sheet,” says CEO Matt Salzberg. “Our plan is to continue to grow the company through both disciplined organic execution and additional M&A of other aggregators and smaller assets.”
Dan Epstein joins the Ambr Group, and was previously the CFO and CEO of Rugged Outdoors, a multichannel retailer of leading sports and outdoor brands. During his 13-year tenure, he made significant investments in operations, marketing and IT to support Rugged Outdoor’s growth. Prior to Rugged Outdoors, Dan Epstein was SVP and Controller at Leo Burnett.
“I am excited to be joining the Ambr’s team and believe Ambr is well positioned to take advantage of the opportunities in today’s e-commerce landscape — expanding our omnichannel capabilities & taking advantage of new channels.“ says Dan Epstein, CFO.
Matt Howitt, CEO of Profound Commerce, says, “I couldn’t think of a better home for Profound Commerce. A big part of the reason we selected The Ambr Group as our partner was because of our similarities in culture and strategy, as well as complementary capabilities.”
As part of the transaction, Matt Spiro from Atalaya Capital Management LP will join Ambr’s Board of Directors, with representatives from existing investors, Material, Crossbeam and Pace Capital, along with D1 Brands co-founder Mohammad Usman.
About The Ambr Group
The Ambr Group operates an omnichannel consumer retail platform that specializes in acquiring and growing e-commerce businesses. Our diverse brands include thousands of proprietary products and operate across four main business verticals: 1) Home & Office, 2) Auto & Industrial, 3) Health, Fitness & Wellness, and 4) Crafts, Gifts & Baby. Ambr Group was formed through the mergers of Suma Brands, D1 Brands, Profound Commerce and FBA Capital, each of which were brand platforms themselves, and is backed by leading investors such as Material, Pace Capital, Co-Venture / Crossbeam, and Atalaya. www.theambrgroup.com
About Profound Commerce
Profound Commerce is a privately held, fast-growing brand holding company that buys, launches, and operates a next generation portfolio of consumer products brands. Profound Commerce brands benefit from a superior marketing, operations, and finance platform with seasoned e-commerce hands at its helm. www.profoundcommerce.com
Source The Ambr Group
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The Ambr Group
Aneesha Rao
(877) 804-3220
https://www.theambrgroup.com/
Aneesha Rao
(877) 804-3220
https://www.theambrgroup.com/
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