Amazon aggregators Branded, Heyday plan to merge as industry shrinks [Video]

Amazon aggregators Branded and Heyday plan to merge, CNBC has learned, as a segment of the e-commerce industry that boomed during the Covid era continues to consolidate.

In a note to staffers on Monday, Heyday CEO Sebastian Rymarz said the combined companies will form a new entity called Essor, which translates to “take flight” in French, “capturing our vision of elevating brands to new heights through our platform,” he wrote.

The new name will be officially rolled out in the coming days, and the combined companies are expected to generate annual revenue of $400 million, Rymarz wrote.

Apollo Global Management and BlackRock are in talks to provide new debt financing to help the combined entity make further acquisitions, according to Bloomberg, citing people familiar with the matter.

“The merger is the culmination of an effort that began well over a year ago to find a partner who could help advance our mission, accelerate progress toward our goals and …