PITTSBURGH — December 29, 2021 — American Eagle Outfitters today announced it has completed the acquisition of Quiet Logistics and strategic investments for approximately $360 million in cash (including adjustments for closing cash and working capital). Quiet Logistics is a leading logistics company that operates a network of in-market fulfillment centers in Boston, Chicago, Los Angeles, Dallas, St. Louis and Jacksonville, locating products closer to need, creating inventory efficiencies, cost benefits and affordable same-day and next-day delivery options to customers and stores.
“I am thrilled to officially welcome Quiet Logistics into the AEO Inc. portfolio, cementing a collaborative partnership that has meaningfully contributed to our financial results over the past 18 months,” said Jay Schottenstein, AEO’s executive chairman of the board and CEO. “AEO’s unique ability to reduce delivery costs amid rising inflation is a direct reflection of the efficiencies provided by their innovative fulfillment model. Quiet Logistics has a highly experienced supply chain leadership team and I look forward to their partnership as we continue to drive operational excellence and grow the platform into a meaningful business.”
Quiet Logistics will be a wholly-owned AEO subsidiary and will continue to run its business independently. The network will support AEO’s continued growth, while also driving economies of scale as it expands its customer base to other brands and retailers seeking advanced logistics capabilities.
Posted: December 31, 2021
Source: American Eagle Outfitters Inc.