American Eagle Outfitters Completes Acquisition of Quiet Logistics
Purchase boosts operational efficiency for AEO and creates supply chain platform with significant long-term growth potential
December 29, 2021
PITTSBURGH – (BUSINESS WIRE) – American Eagle Outfitters (NYSE: AEO) today announced that 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 market-based distribution centers in Boston, Chicago, Los Angeles, Dallas, St. Louis and Jacksonville, locating products closer to need, creating cost savings. same-day inventory, cost benefits and affordability. and next day delivery options to customers and stores.
“I am delighted to officially welcome Quiet Logistics to the AEO Inc. portfolio, cementing a collaborative partnership that has significantly contributed to our bottom line over the past 18 months,” said Jay Schottenstein, Executive Chairman of AEO Board of Directors and CEO. “AEO’s unique ability to reduce delivery costs amid rising inflation is a direct reflection of the efficiency provided by its innovative delivery model. Quiet Logistics has a very experienced supply chain leadership team and I look forward to their partnership as we continue to promote operational excellence and make the platform a meaningful business. ”
Quiet Logistics will be a 100% subsidiary of AEO and will continue to manage its activities independently. The network will support AEO’s continued growth, while generating economies of scale as it expands its customer base to other brands and retailers in search of advanced logistics capabilities.
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About silent logistics
Founded in 2009, Quiet Logistics is a rapidly growing operator of state-of-the-art distribution centers, serving more than 50 leading DTC and omnichannel brands. Quiet’s unique strategy allows the product to be positioned close to customers and stores, and enables its customers to achieve savings in speed and transportation costs compared to traditional third-party distribution networks. Quiet has a history of innovation and thought leadership and focuses on urbanization, automation, and accessing labor pools outside traditional distribution centers, for the benefit of its customers.
About American Eagle Outfitters, Inc.
American Eagle Outfitters, Inc. (NYSE: AEO) is a leading specialty retailer in the world offering high quality and trendy clothing, accessories and personal care products at affordable prices as part of its American Eagle .® and Aerie® brands. Our goal is to show the world that there is REAL power in youth optimism. The company operates stores in the United States, Canada, Mexico and Hong Kong, and ships to 81 countries around the world through its websites. American Eagle and Aerie products are also available at over 200 international locations operated by licensees in 33 countries. For more information, please visit www.aeo-inc.com.