GigaCloud Completes Acquisition of New Classic Home Furnishings for $18M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 02 2026
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GigaCloud Technology completed the acquisition of New Classic Home Furnishings. Founded more than 25 years ago in Fontana, California, New Classic serves over 1,000 retailer customers and offers a broad portfolio of more than 2,000 SKUs. The acquisition strengthens GigaCloud's growing ecosystem by adding a well-established wholesale business with broadened retailer relationships and a proven product assortment. The acquisition was completed following the satisfaction of all customary closing conditions under the definitive Share Purchase Agreement. Under the terms of the agreement, GigaCloud acquired 100% of the outstanding equity of New Classic for total consideration of $18M on a debt-free basis, including a post-closing earn-out. The purchase price is subject to customary post-closing adjustments, including a net working capital adjustment. The transaction was funded from GigaCloud's existing cash on hand and was unanimously approved by the Company's Board of Directors.
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Analyst Views on GCT
Wall Street analysts forecast GCT stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for GCT is 37.67 USD with a low forecast of 33.00 USD and a high forecast of 44.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 40.690
Low
33.00
Averages
37.67
High
44.00
Current: 40.690
Low
33.00
Averages
37.67
High
44.00
About GCT
GigaCloud Technology Inc specializes in global end-to-end business to business (B2B) technology solutions for large parcel merchandise. The Company’s B2B e-commerce platform, the GigaCloud Marketplace, integrates everything from discovery, payments and logistics tools into one easy-to-use platform. Its global marketplace connects manufacturers, primarily in Asia, with resellers, primarily in the United States, Asia and Europe, to execute cross-border transactions. The Company offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The GigaCloud Marketplace offers SKUs across furniture, home appliances, fitness equipment and other large parcel categories from its active 3P sellers. Its operations include GigaCloud 3P, GigaCloud 1P and Off-platform Ecommerce. Its GigaCloud 3P operation includes platform commission, ocean transportation service, warehousing service, packaging service and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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GigaCloud Appoints Two Vice Presidents of Sales to Drive Market Expansion
- Executive Appointments: GigaCloud has appointed Michael Pitman and Scott Hill as vice presidents of sales, leveraging their combined 70+ years of experience in the home furnishings industry to enhance the company's sales strategy and market expansion efforts.
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