Company buys Ecomom and its organic, ‘green’ products
Spokane online eco-product retailer Green Cupboards has acquired competitor Ecomom.com and changed its corporate name to Etailz.
The startup company, which sells a variety of home, family and health products, also has plans to make more acquisitions this year.
Buying the assets and inventory of Ecomom followed the unexpected death in February of Ecomom’s founder, Green Cupboards CEO Josh Neblett said.
Las Vegas-based Ecomom is a 4-year-old online retailer specializing in products for kids and families.
Neblett said he’s not free to disclose the cost of the acquisition. The deal included gaining about $1 million in Ecomom inventory, he said.
Because both companies sold organic, family-friendly “green” products, purchasing Ecomom made sense, Neblett said.
Green Cupboards, based at the McKinstry building east of downtown, generated around $13 million in sales in 2012. Neblett said the goal with the acquisition is to hit sales this year “just north of $25 million.”
“We want to be the leader in (selling) eco-friendly products, so this helps us build toward that goal,” Neblett added.
The strategy includes operating Ecomom and Green Cupboards as separate business channels, said Spokane investor Tom Simpson, who helped form Green Cupboards and sits on its board.
Changing the name to Etailz helps manage what Simpson said will be a “portfolio of brands.”
“We now operate Green Cupboards and Ecomom. More acquisitions are in the funnel, so it did not make sense to have the company be the name of just one of our business units,” Simpson added.