iPower Inc (IPW), a leading online hydroponic equipment supplier and retailer, said on Tuesday it had acquired Anivia Limited, a British Virgin Islands company, in a deal valued at $12 million.
Anivia Limited has a 100% interest in iPower’s biggest global co-engineering partner, Daheshou Shenzhen Information Technology Co Ltd. (DHS).
DHS is a China-based service provider with a focus on R&D, distribution, quality assurance, end-to-end supply chain management services and online merchandising services, which it provides to markets in North America, Europe and Asia.
By acquiring DHS, iPower Inc expects to bolster its current supply chain and e-commerce capabilities via in-house product sourcing, manufacturing network management, quality assurance processes and R&D expertise.
“Since the onset of the global pandemic and throughout the past year’s volatile supply chain environment, we have relied extensively on DHS to source consistent, high-quality products in a timely fashion,” iPower’s Chief Executive Officer Lawrence Tan said in a statement.
“Their deep sourcing network and R&D expertise have been invaluable assets to our company. Bringing our key supplier and logistics service provider in-house will strengthen our supply chain and reduce the risk of potential supplier turnover,” the CEO added.
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