SVOK - Boxed to acquire MaxDelivery terms not disclosed

Boxed, an e-commerce grocery platform has announced the signing of a definitive agreement to acquire MaxDelivery, one of New York’s first on-demand grocery delivery services. The transaction is expected to close in Dec. 2021, subject to certain undisclosed financial terms. “This acquisition of MaxDelivery will mark our entry point into the rapidly growing fast-grocery delivery space, in addition to broadening our capabilities in micro dark-store fulfillment and fresh supply chain.” said Chieh Huang, Co-founder and CEO of Boxed. On June 13, 2021, Boxed and Seven Oaks Acquisition (NASDAQ:SVOK) entered into a definitive agreement relating to the business combination that would result in Boxed becoming a public company upon the closing of the transaction.

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Boxed to acquire MaxDelivery, terms not disclosed