Supply chain logistics company Stord has acquired the fulfillment services operation of Pitney Bowes’ e-commerce division. The transaction, which was finalized on Friday, marks a significant expansion for Stord in the e-commerce sector. Although the terms of the deal have not been disclosed, the acquisition reflects Stord’s ongoing strategy to enhance its fulfillment and logistics services.
This acquisition comes on the heels of Pitney Bowes’ recent executive shakeup. Earlier this month, Greg Zegras, the president of Pitney Bowes’ Global Ecommerce segment, retired after a decade with the company. Zegras held several key positions since joining Pitney Bowes in 2013, but no successor has been named for his role, leaving a leadership gap in the company’s e-commerce division.
Stord, known for its end-to-end logistics solutions, provides a cloud-based platform designed to streamline supply chain operations for shippers. The acquisition of Pitney Bowes’ fulfillment services operation is Stord’s second major move in the e-commerce sector within the past four months. In April, Stord acquired ProPackLogistics, which expanded its operations to 1.6 million square feet of fulfillment centers. This acquisition enabled Stord to manage over 25 million direct-to-consumer and business-to-business orders, demonstrating the company’s growing influence in the logistics industry.
Despite the sale of its fulfillment services operation, Pitney Bowes remains active in the broader e-commerce market. In 2023, the company’s e-commerce division reported over $1.35 billion in revenue. The sale of the fulfillment services segment represents a strategic refocus for Pitney Bowes as it continues to adapt to the evolving market landscape.
Pitney Bowes has chosen not to comment on the acquisition, and Stord has yet to respond to inquiries regarding the deal. The acquisition is expected to further enhance Stord’s capabilities and market presence, aligning with its mission to provide comprehensive, technology-driven logistics solutions.
As the logistics and e-commerce sectors continue to evolve rapidly, Stord’s latest acquisition positions it as a formidable player in the fulfillment space, poised to leverage its expanded resources and infrastructure to meet the growing demands of the market. It is worth noting that e-commerce is a challenge when the logistics is handled by someone else so having everything in one place makes sense.
