GigaCloud closes $18M New Classic deal

GigaCloud Technology (NASDAQ:GCT) announced on January 2, 2026, the successful completion of its acquisition of New Classic Home Furnishings, a prominent U.S.-based furniture distributor.

The transaction, valued at $18 million on a debt-free basis, marks a significant step in GigaCloud’s mission to create a "channel-agnostic" B2B ecosystem for large-parcel merchandise.

The acquisition was funded entirely through GigaCloud’s existing cash reserves.

Under the terms of the agreement, GigaCloud acquired 100% of New Classic, which will maintain its established brand identity and management team.

The deal also includes a post-closing earn-out provision tied to recurring revenue milestones for the 2026 fiscal year.

Founded over 25 years ago in Fontana, California, New Classic has built a formidable reputation as a wholesale power player.

The acquisition brings several key assets to the GigaCloud platform.