Hilco Merchant Resources acquires Deal Genius

NORTHBROOK - Hilco Merchant Resources LLC said it has acquired online retail and daily deal e-commerce brand Deal Genius LLC.

Terms of the acquisition were not announced.

Deal Genius was launched as a flash retail sales web business in 2004 and has become a leading online e-commerce sites in North America, with millions of retail transactions completed. The site delivers daily deals on brand name home goods, apparel, consumer electronics, pet supplies and unique one of a kind merchandise.

Hilco Merchant Resources CEO Michael Keefe said the acquisition is a fit with the retail disposition firm's growth and expansion plans.

"This is a strategic move for HMR and a transaction that we've been evaluating for some time while reviewing whether to build out or to buy an e-commerce platform to complement our other successful sales channels," Keefe said. "Deal Genius provided us with both an immediately recognized e-commerce brand name, and the opportunity to tap into the knowledge and expertise of the innovative management team that built the successful online retail business from scratch."

Deal Genius will continue to be managed as an independent business within Hilco Merchant Resources. The site's CEO and founder, Chris Matsakis, will continue in that role and will be responsible for integrating the company into HMR and expanding the e-commerce site with new products and services, including an infusion of merchandise from various HMR retail projects.

"By adding Deal Genius to our current suite of services we will now provide our clients with a fully integrated and highly efficient additional channel to promote and monetize their surplus and excess inventory," Keefe said.

The acquisition closed on July 22.