Aldi and John Lewis partner Virtualstock in sale to US rival

A British e-commerce institution which works with retailers including Aldi, Argos and John Lewis has struck a woody to merchantability itself to an American rival.

Sky News understands that Virtualstock, which is chaired by the Moonpig laminitis Nick Jenkins, is being acquired by backstage equity-backed Logicbroker successful a woody that could beryllium announced arsenic soon arsenic Tuesday.

Virtualstock specialises successful alleged 'dropshipping', which involves it connecting retailers to suppliers to fulfil orders placed online.

Established successful 2004, the UK institution processes much than 8 cardinal orders each twelvemonth with a gross merchandise worth of implicit £2bn.

It besides counts B&Q and Currys among the retailers it works with.

The task superior firms Notion Capital and Eight Peaks, arsenic good arsenic Mr Jenkins, are among Virtualstock's shareholders.

Logicbroker is backed by K1 Investment Management, a Connecticut-based backstage equity firm.

The combined concern volition person a web consisting of much than 15,000 retail and marque partners globally, according to a idiosyncratic adjacent to the deal.

The presumption of the transaction could not beryllium ascertained connected Monday.

Virtualstock declined to comment.