Winc Australia owner to buy Chinese-owned global distributor.

 

US private equity firm Platinum Equity, owner of Winc Australia/New Zealand, has entered an agreement to buy Ingram Micro, the world’s largest provider of technology logistics services and solutions.

 

Headquartered in California, Ingham Micro is owned by Chinese group HNA Technology and is valued at US$7.2 billion.

 

The company generated more than US$47 billion in revenue in the 2019 financial year.

 

The Platinum Equity deal removes the financial cloud hanging over Ingram Micro as a result of the financial troubles of HNA Group and its HNA Technology Co. subsidiary.

 

In April, HNA Group said via social media that it had “reached the point of life and death” due to the revenue impact from the coronavirus, according to the Financial Times.

 

“Ingram Micro is an industry leader, one of the largest companies in the world and will be a cornerstone investment in our portfolio,” Platinum Equity chairman and CEO Tom Gores, said. “We have the resources and the experience to help the company pursue an aggressive agenda of growth and transformation.”

 

With more than 35,000 employees and operations in 60 countries, Ingram Micro serves more than 250,000 customers and partners with over 2000 vendors.