GigaCloud to acquire New Classic Home Furnishing for $18M, expanding into brick-and-mortar wholesale

GigaCloud Technology Inc

Acquisition of 100% of New Classic Home Furnishing for $18M in cash; expected close Jan 1, 2026.
New Classic generates ~$70M annual revenue, 2,000+ SKUs, and serves 1,000+ brick-and-mortar retailers.
Deal diversifies supply chain: New Classic sources <3% from China, mostly from Southeast Asia and US.
New Classic will retain brand and management; earn-out based on 2026 recurring revenue milestones.
GigaCloud funded from existing cash; term sheet binding subject to customary conditions.

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