EL MONTE, Calif., January 2, 2026 — (Nasdaq: GCT) (“GigaCloud” or the “Company”), a trailblazer in global end-to-end B2B technology solutions for large-parcel merchandise, today revealed that it has finalized the acquisition of New Classic Home Furnishings, Inc. (“New Classic”), a U.S.-based distributor catering to the home furnishings sector.
Established over 25 years ago in Fontana, California, New Classic serves more than 1,000 retail customers and provides an extensive portfolio of over 2,000 SKUs. The acquisition bolsters GigaCloud’s expanding ecosystem by incorporating a well-rooted wholesale operation with widened retailer connections and a tested product range.
“Concluding this acquisition marks another key step in implementing our strategy to simplify large-parcel commerce,” stated Larry Wu, Founder, Chairman, and Chief Executive Officer of GigaCloud. “By merging New Classic’s retailer customer network with our technology-driven marketplace and fulfillment capacities, we’re generating fresh opportunities for retailers to compete effectively in a more and more dynamic trading landscape.”
The acquisition was finalized after meeting all standard closing conditions outlined in the definitive Share Purchase Agreement. Per the agreement’s terms, GigaCloud purchased 100% of New Classic’s outstanding equity for a total debt-free consideration of $18 million, which includes a post-closing earn-out. The purchase price is subject to standard post-closing adjustments, such as a net working capital adjustment. The deal was funded using GigaCloud’s existing cash reserves and received unanimous approval from the Company’s Board of Directors.
About GigaCloud Technology Inc
GigaCloud Technology Inc is a trailblazer in global end-to-end B2B technology solutions for large-parcel merchandise. The Company’s B2B e-commerce platform, known as the “GigaCloud Marketplace,” combines discovery, payments, and logistics tools into a single user-friendly platform. Its global marketplace smoothly links manufacturers—mostly in Asia—with resellers—predominantly in the U.S., Asia, and Europe—to conduct cross-border transactions with confidence, speed, and efficiency. The Company provides a fully comprehensive solution that delivers products from the manufacturer’s warehouse to the end customer’s home, all for a single fixed price. The Company initially launched its marketplace in January 2019, focusing on the global furniture market, and has since branched out into other categories like home appliances and fitness equipment. For additional details, please visit the Company’s website: .
Forward-Looking Statements
This press release includes “forward-looking statements.” Forward-looking statements reflect our current perspective on future events. These statements involve both known and unknown risks and uncertainties and are based on the Company’s current expectations and forecasts regarding future events it believes could impact its financial condition, operating results, business strategy, and financial requirements. Investors can recognize these forward-looking statements through terms like “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue,” or similar phrases. The Company has no obligation to publicly update or revise any forward-looking statements to reflect later events or circumstances, or changes in its expectations, unless required by law. While the Company believes the expectations in these forward-looking statements are reasonable, it cannot guarantee they will prove correct. The Company warns investors that actual results may differ significantly from anticipated results and urges them to review other factors affecting its future results in the Company’s registration statement and other SEC filings.
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