Rainforest, an e-commerce brand aggregator, has finalised the purchase of Millenium Enterprises, which includes its flagship infant care brand NatureBond.
Millenium Enterprises founder Jeffrey Chua will join Rainforest as an advisor following the acquisition, while NatureBond’s existing team will join Rainforest.
Rainforest will also provide marketing, pricing, supply chain, sourcing, product development, and cross-border expansion help to the brand. It already has over 13 cross-border brands in the mother, kids, infant care, and home areas, in addition to NatureBond.
NatureBond was created in 2016, and it now has 31 patents and sells its goods to more than 10 million people in 22 countries. Over 40,000 favourable product reviews and feedback have been received to date.
“We are immensely excited to welcome Naturebond into Rainforest’s growing family of brands for the modern mum. In a short time, NatureBond has established a reputation for creating fresh, distinctive and insightful products in an industry that is sometimes conservative in its innovation. This aligns well with our portfolio strategy as we continue to assemble compelling international brands targeted at the modern mum. I believe this partnership will accelerate both Naturebond’s global growth and the growth of our current baby brands and I am very excited by the opportunity ahead of us,” Chai said.
Rainforest acts as an e-commerce aggregator by purchasing consumer e-commerce firms, allowing them to give entrepreneurs with a profitable exit while also assisting brands in their growth.
Monk’s Hill Ventures led a $20 million Pre-Series A fundraising round for the firm last year. It intends to use the money to buy brands, and it has already done so with the purchase of six e-commerce businesses on Amazon marketplaces.
In the same email, Chai stated that it plans to spend more than $100 million this year on acquisitions to expand its portfolio. It also claimed that the company’s brands expanded three times faster than the US e-commerce industry in the second half of 2021.
Brand aggregation has emerged as one of the most promising e-commerce branches in recent years, as seen by the capital rounds received by firms in the field.
Hypefast, an Indonesian e-commerce brand aggregator, raised US $19.5 million in a Series A financing headed by Monk’s Hill Ventures in November 2021. It will compete with Una Brands and Rainforest from Singapore.