Advent-Backed Retailer Thrasio Raises $500 Million in Debt Deal

(Bloomberg) -- Thrasio, an acquirer of private-label businesses on Amazon.com Inc., has raised $500 million in a senior debt facility.

The transaction was led by JPMorgan Chase & Co., Goldman Sachs Group Inc.’s asset management arm and Royal Bank of Canada, according to a statement. Thrasio is valued at at least $3 billion in the deal, said people familiar with the matter, who asked not to be identified because the information was private.

A representative for Thrasio didn’t immediately respond for a request for comment on the company’s valuation.

Thrasio generated more than $100 million in profit on sales of $500 million in 2020, the statement shows.

The debt deal follows a $260 million Series C fundraising in July that was led by the private equity firm Advent International. Thrasio has completed six fundings in the past 14 months, co-founder and Co-Chief Executive Officer Josh Silberstein said in a statement. The company has raised a total of $1 billion since its inception.

“The success we’ve had to date is gratifying, but Thrasio’s real legacy will come from reinventing the very idea of what an omni-channel retailer is,” Silberstein said.

Thrasio buys brands for everyday products from small business owners for a typical purchase price of more than $1 million. It then operates the brand with upgraded marketing, product development and supply chain management.

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