1. Home ›
2. Blog ›
3. Amazon FBA ›
4. Amazon Aggregators: Who They Are and How They Buy Brands

Amazon Aggregators: Who They Are and How They Buy Brands

An Amazon aggregator is a company that buys established Amazon FBA brands and grows them inside a larger portfolio. Aggregators are one of the buyer groups on the Empire Flippers marketplace, where Amazon FBA was the top-selling business model in 2025 at 36% of all businesses sold.

This guide shows what aggregators pay, the criteria they screen for, how their offers are structured, and how to get competing bids before you sign. It draws on our own deal data, including 59 aggregator deals we studied on our marketplace in 2021 and the 62 FBA businesses we sold in 2025.

What Is an Amazon Aggregator?

An Amazon aggregator, also called a brand aggregator or FBA aggregator, raises capital from investors and uses it to buy many small and mid-sized Amazon brands. Instead of building one brand from scratch, it buys brands that already have sales, reviews and a working supply chain.

After the purchase, the aggregator runs each brand with shared teams for advertising, listing optimisation, sourcing and logistics. The aim is to grow profit faster than a solo founder could, and to sell the products in more countries and channels.

• What they buy: private label brands that sell mainly through Amazon FBA.
• How they pay: usually most of the price in cash at closing, with the rest as an earnout.
• What they change: PPC, listing copy and images, SKU range, pricing and logistics.
• Who they compete with: private equity firms, high-net-worth individuals and operators who buy FBA brands on our marketplace.

How Much Amazon Aggregators Pay for Brands

Aggregators do not publish full deal data, but two sources give a clear range. Fortia Group‘s data showed 47% of aggregators paid $2 million to $5 million per brand on average, 24% under $1 million and 12% over $5 million.

Our study of 59 aggregator deals on the Empire Flippers marketplace in 2021 showed a similar spread. Across those deals the average monthly net profit was $41,687, and aggregators paid an average of about $1.9 million per FBA listing in that study.

Our current sales show the wider FBA market. In 2025 we sold 62 Amazon FBA businesses at an average price of $282,910 and an average multiple of 2.1x, and four sellers exited for $1,000,000 or more.

Most FBA businesses are valued at 1.6x to 3.7x their trailing 12-month net profit, with the wholesale value of current inventory added on top. See how FBA valuations work for the full method.

How Amazon Aggregators Evaluate Brands

Across the 59 aggregator deals we studied, every buyer screened brands on the same core criteria: profit, a private label brand, a small SKU range, Amazon-led sales, an evergreen niche and proof of customer loyalty.

In general, Amazon brand aggregators look for established FBA brands with in-demand products that generate steady income. These assets must also still have growth levers to pull after the sale.

Aggregators prefer FBA assets with primary revenue streams from private label sales rather than wholesale or retail arbitrage.

Let’s dig deeper into some of the analyses we’ve done on other typical brand aggregator due diligence criteria.

$1 Million in Revenue or $200,000 in Annual Net Profit

Amazon aggregators look for businesses that make either of the above figures. Furthermore, most aggregators will require your brand to have at least 15% profit margins. Margins lower than that will be seen as not having enough growth potential to move forward.

The average monthly net profit across 59 deals with aggregators on our marketplace was $41,687.

Your Amazon brand doesn’t even need to earn that much. For example, a brand making $25,000 in net profit per month earns $300,000 a year. At 3.3x annual net profit, it would sell for about $1 million. Check out this guide to learn more on how FBA valuations work.

Private Label Brands

All of the businesses sold to aggregators on our marketplace were private label brands.

Private label FBA brands source their own products and have their own branding on their products. This is different from retail arbitrage, where someone buys a discounted retail product from a shelf in store and sells it on Amazon for a profit. With private label selling, you can build a brand and launch different products while controlling the pricing, which is much more difficult to do with retail arbitrage.

There aren’t any requirements to start selling private label products on Amazon, but it’s highly recommended that you sign up for Amazon Brand Registry and trademark your brand. All of the businesses bought by aggregators were part of the Brand Registry program, and only one of the 59 FBA businesses didn’t have a trademark.

It’s important to build a moat around your brand to make it more defensible from copycats stealing your idea and selling your products, so it’s worth registering for Amazon Brand Registry and a trademark sooner rather than later. That said, Amazon Brand Registry or trademarks are great to have but not the be all and end all. The important thing is that aggregators look for brands that sell their own unique products.

Small SKU Range

On our marketplace, the average number of SKUs for done deals were 14 (we had to remove an outlier as one business had nearly 2,000 SKUs, raising the average significantly). For a business you plan to sell, three to eight active SKUs is the range buyers find easiest to run and value.

It’s normal for third-party sellers to offer a wide range of color and size variations of their hero SKUs.

To keep operations simple, a lower number of SKUs makes it more manageable to update and maintain a brand, especially since a lean team of operators will need to keep an eye on dozens of FBA assets, each with potentially dozens of SKUs to maintain.

To keep this range as manageable as possible, brand aggregators will delist some SKUs, especially if they don’t contribute much in terms of revenue. Additionally, optimizing and maintaining product listings is easier if the product SKU range is smaller.

Majority of Sales and Revenue Are through Amazon

Savvy entrepreneurs often diversify their sales channels by selling their products outside of Amazon.

While becoming less reliant on Amazon helps build a bigger moat around your brand, Amazon aggregators will look primarily at assets that generate the most revenue through sales on the Amazon marketplace.

Evergreen Niches

We often get asked, “What types of niches sell the most?”

There are few undesirable niches. Your primary focus should be on building a solid brand that has steady income and clearly differentiated products.

We found in a previous data study that niche doesn’t affect your ability to sell your business as much as people might think.

The same holds true for FBA assets, as brands sold products successfully across 37 unique niches.

As long as you’re not selling products in a fad trend, such as fidget spinners, your brand is worth a look.

Excellent Branding

Brand strength is hard to quantify, but we know Amazon aggregators pay attention to product reviews and ratings.

Strong branding usually looks like high average ratings and positive social proof.

Quality over quantity is reflected in user reviews and conversion rates. In a recent CRO experiment by Conversion Crimes, customers clicked on a listing with 10× fewer reviews than a similar listing, which even had an Amazon’s Choice badge. At face value, the listing with more reviews seemed like a better choice, but it had several reviews with customers complaining that the product was faulty or not working as intended.

Quinn Zeda and her team found that listings with fewer negative reviews about the product quality received more clicks. The types of reviews left by customers influences buying decisions.

Provide excellent customer service to try and turn the experience into a positive one with the hope of a disgruntled customer taking down or changing their negative feedback. Amazon’s Buyer-Seller Messaging service lets you reach out to customers and start that conversation.

High-Quality Products

Brand aggregators take these quality factors into account when reviewing your product range.

Focus on building high-quality products. This might require you to order samples from different suppliers until you find one that can make the SKUs according to your requirements.

Once you minimize production quality issues and have a proven minimal viable product, you can then turn your attention to ranking higher in product categories. If you can win the Buy Box or receive an Amazon’s Choice or Best Seller badge, this shows even better proof of high market demand.

Evidence of Customer Loyalty

Another aspect of strong branding is how well FBA sellers build up an audience.

Having a built-up email list is one way to nurture an audience, as is growing a following on social media.

Better evidence of customer loyalty is how well you can create recurring revenue. Amazon sellers encourage repeat purchases at discounted prices by offering the Subscribe and Save program to their customers. Offering the option to buy at discounted rates could be a strong win for brands that sell consumable products, such as supplements or pet food.

Leveraging an engaged audience through subscription-based plans like Subscribe and Save increases the chance of gaining repeat customers. Recurring revenue from returning and new customers shows aggregators that your brand generates revenue from different avenues.

Amazon Marketplace and Region

The majority of aggregator-acquired FBA brands sell on the Amazon U.S. marketplace, although the EU marketplace is growing.

Aggregators like Berlin Brands and Benitago are recognizing the EU market potential and making waves there.

What Aggregators Check in Due Diligence

Meeting the criteria above gets you an offer. Passing due diligence gets you paid. Aggregators verify every claim in your listing before closing.

• Verified financials: a profit and loss statement for at least 12 months, matched to Seller Central reports, bank statements and monthly expenses.
• Brand ownership: a registered trademark and enrolment in Amazon Brand Registry.
• Account health: no open policy violations, suspended listings or unresolved IP complaints.
• Product concentration: how much revenue depends on one ASIN, and how stable its rank and reviews are.
• Supply chain: supplier contracts, unit costs, lead times and inventory on hand.
• Owner time: what you do each week and who will do it after the sale. Under 10 hours a week is ideal.

Clean records also matter on our side. We reject more than 90% of submitted businesses, and the most common reasons are unverified identity and an earnings history that is too short. See why 91% of businesses do not pass our vetting process.

Does your brand meet these criteria? List it with us and let aggregators and other buyers compete for it.

Sell your Business Free Valuation

Examples of Amazon Aggregators: Thrasio, Perch, SellerX and Others

When this list was compiled in 2022, about 89 aggregators had raised roughly $13 billion, and the top nine held nearly 70% of that funding. The examples below show how differently the biggest Amazon aggregators work, from Thrasio’s scale to Perch’s 70+ acquired brands and Merama’s focus on Latin America.

Funding totals and brand counts below date from 2022. Aggregator activity changes quickly, so check a buyer’s current status and proof of funds before you share your data.

Thrasio

When our list was compiled in 2022, Thrasio led the Amazon aggregator space and for good reason. Started in New York in 2018, Thrasio has the distinction as the fastest-growing unicorn in the U.S.

They have secured $3.4 billion in funding to date and completed over 25 deals in 2021, adding to their 200+ brand-strong portfolio.

Thrasio typically acquires seven-figure businesses in the home, cleaning, and fitness categories, among others.

Berlin Brands Group

The second-largest Amazon brand aggregator by funding is Berlin Brands Group. They sell in 28 countries and have raised $1.3 billion in funding so far.

This aggregator shows no sign of slowing down, as they have over 1,000 employees to scale their portfolio, which contains more than 45 brands in the consumer electronics, sports, and home and living niches, to name a few.

Acquired brands usually generate seven figure revenues.

Heyday

One of the fastest-growing aggregators so far, Heyday has raised $800 million in total funding since launching in August 2020.

The San Francisco-based company raised $555 million in November 2021.

Little is known about what types of brands they acquire, but knowing they are backed by the Raine Group and General Catalyst means Heyday’s strategy is attracting serious interest.

Perch

With $775 million so far and more than 70 acquired brands, Perch is one of the most well-known Amazon aggregators out there.

Similar to Thrasio’s requirements, Perch looks to acquire FBA brands making $200,000 in annual profits or $1 million in revenue. They pay attention to strong branding and evidence of a large customer base.

So far, Perch’s portfolio includes products in the apparel, beauty, home, kitchenware, and health and wellness categories.

SellerX

Another Berlin-based company, SellerX has raised over $767 million in funding to date.

They have over 30 Amazon native brands in their portfolio.

SellerX looks at businesses generating over $1 million in revenue that show signs of significant growth, reflected by over 20% year-on-year profit margins.

Razor Group

The third Berlin-based aggregator on this list has raised $550 million in funding, and is backed by large PE-firms, such as BlackRock and 468 Capital.

Razor Group will consider acquiring FBA brands that meet these criteria:

• Brand has clean bookkeeping, with all existing financial statements;
• Generates a minimum of €100,000 EBITDA;
• Has at least 10% profit margins;
• Established at least 2 years ago; and
• Has a registered trademark.

Merama

This Mexico City platform was launched in late 2020 and focuses on acquiring Latin American e-commerce brands.

Merama has raised $445 million in funding to scale Amazon FBA assets. Their model is slightly different to other aggregators in that they act like an incubator. Merama will buy a majority stake in a company and work to help the owner exit in 3–5 years while growing the business.

Growve

Growve was founded in 2018 and focuses on brands in the health, wellness, and beauty categories.

The Florida-based aggregator has acquired over 25 brands and raised $400 million in funding. Growve scales FBA brands through omni-channel selling and can help with logistics, as they have their own logistics network to manufacture and distribute products.

Elevate Brands

Elevate Brands has an ambitious goal to place a product from their portfolio in “every human’s hand by 2030.”

To achieve this, the New York-based group has raised $372 million in funding and focuses on established brands with great reviews and strong sales.

Their portfolio includes brands in a wide range of categories, such as beauty and personal care, pet supplies, home and kitchen, and baby products.

To be considered for acquisition, Elevate Brands looks at FBA businesses generating $1 million in annual revenue with over 20% profit margins.

Mantaro Brands

Mantaro Brands was founded in 2021 and looks across product categories and seeks purpose-driven and environmentally-conscious brands they think can have long-term impacts.

They acquire brands that have a minimum of $500K in annual seller’s earnings, with a sweet spot of $5M.

Their average acquisition time frame is 30 business days.

Other Aggregators

Other notable mentions include:

• Boosted Commerce,
• Benitago,
• Forum Brands,
• Foundry,
• Olsam,
• Accel Club, and
• D1 Brands.

For a full list of aggregators, check out Marketplace Pulse.

Are Amazon Aggregators Still Buying Brands?

Yes. Aggregators are still active buyers of Amazon FBA brands, alongside private equity firms and high-net-worth individuals.

That matters for sellers. In 2025, FBA was the top-selling business model on our marketplace, and our buyers hold more than $16.1 billion in verified proof of funds. A strong brand no longer depends on a single aggregator offer to reach a good price.

Aggregators still pay most for brands that fit their playbook: steady profit, few SKUs, strong reviews and room to grow through ads, new markets or new channels. If your brand does not fit that playbook, an individual buyer or a smaller fund on the Amazon FBA marketplace is often the better match.

Should You Sell to an Aggregator or Another Buyer?

An aggregator can be a good buyer, but a direct offer is rarely the best price you can get. Here is how a typical direct offer works.

A brand aggregator could approach you with a private deal.

The offer could be $1.5 million for your FBA brand (usually with the majority of the cash up front and a portion of the deal in earnouts). However, you’ve only got three days to confirm before they’ll move on.

The offer might seem great at first glance, but taking the offer too quickly might mean leaving money on the table.

You’ve really only got two choices: act fast or lose out.

If you accept, you’ll be locked into a due diligence period after you sign the LOI. This prevents you from speaking with anyone else, even if they offer you a better deal. The aggregator may even back out during this period, resulting in lost time that you could have spent negotiating with a different buyer.

For first-time sellers, this is a terrifying situation to be in; $1.5 million is life-changing money for most but there’s always the chance they could sell for more. Yet, many sellers would accept the offer because there doesn’t seem to be a better option.

This is where a broker can help maximize your deal potential and save you from leaving money on the table.

Compare a direct offer with a brokered sale:

If an aggregator has already approached you, you can still list with us and invite them to bid against other buyers. Scheduling a quick call with our team is the fastest way to check your options.

How a Broker Gets You More From Aggregators

Many sellers don’t realize that they actually have more leverage than they think. Here’s the kicker that many aggregators don’t want you to know: they will pay a premium price if a brand meets all of their criteria.

How do you get an aggregator to pay more for your FBA brand?

By creating competition.

So far, the only way to generate competition between aggregators is by using a broker. Aggregators will rarely swoop in at the eleventh hour to offer a better private deal to Amazon sellers, likely because they’re unaware that an offer has been made in the first place.

This is why aggregators hold more negotiating power in a private deal since they can generate scarcity and urgency on their own terms.

Using the right broker levels the playing field. Since all the aggregators see your business for sale, they have to submit the best offer for your business.

Now, you can choose a deal that meets your needs. And in your own time.

If you list with us, you’re giving your FBA brand the best chance of selling for its highest price. On our marketplace, brand aggregators keep a close eye on the listings because they know we list quality brands, largely due to our strict vetting process. And time and time again, sellers have received multiple offers for their FBA businesses, often at much higher prices than what their businesses were initially listed for.

Just like the 59 deals on our marketplace in 2021, you could sell your FBA brand on your own terms if you list with us.

Our fee is a success fee, paid only when your business sells. It is a flat $10,000 up to $70,000, 15% of the price up to $700,000, 8% of the portion from $700,000 to $5 million and 2.5% of the portion above $5 million. Use the commission calculator to see your number, and read how earnouts and seller financing work before you accept a split payment.

Before you start imagining a profitable exit, you’ll need to get your business in shape first. So you’re in a better position to exit, here are some of the ways you can prepare your brand.

How to Make Your Brand Aggregation-Ready

Aggregators pay more for brands that are easy to verify and easy to run. Use this checklist six to twelve months before you plan to sell.

1. Know your number. Run our free valuation tool and update it every quarter.
2. Build 12 months of clean books. Keep a monthly profit and loss statement with every expense recorded. Here is how to sort your finances.
3. Meet the minimums. We list businesses with at least 12 months of earnings history and $24,000 or more in annual net profit.
4. Protect the brand. Register your trademark and enrol in Amazon Brand Registry.
5. Trim the catalogue. Focus on three to eight active SKUs and drop slow sellers.
6. Step back from daily work. Document your processes and get your own time under 10 hours a week.
7. Plan the stock. Keep enough inventory to cover the sale period, since inventory is valued on top of the profit multiple.

For a full timeline, read how to prepare your online business for sale and how to sell an Amazon FBA business for maximum profit.

Next Steps for Sellers

1. Get a free valuation. It takes a few minutes and shows your likely price range.
2. Submit your business. Our vetting team checks your financials and traffic before listing.
3. Go live and take offers. Aggregators and other buyers compete for your brand.
4. Close and transfer. We handle negotiation, deal terms and migration.

Not sure yet? Speak to our team about your options. See the full process on how it works.

Sell your Business Free Valuation

Amazon Aggregators: Frequently Asked Questions

What is an Amazon aggregator?

An Amazon aggregator is a company that buys several established Amazon FBA brands and runs them as one portfolio. It uses investor capital and shared teams for advertising, sourcing and logistics to grow each brand faster than a solo owner could. See how the Amazon FBA model works.

Which are the biggest Amazon aggregators?

When our list was compiled in 2022, Thrasio led the space by funding. Other well-known examples include Berlin Brands Group, Heyday, Perch, SellerX, Razor Group, Merama, Growve, Elevate Brands and Mantaro Brands. Funding and activity change quickly, so check a buyer’s current status before you share your data.

Are Amazon aggregators still buying in 2026?

Yes. Aggregators still buy Amazon FBA brands, alongside private equity firms and high-net-worth individuals. FBA was the top-selling business model on our marketplace in 2025, at 36% of all businesses sold.

What makes a brand attractive to an aggregator?

Aggregators want a profitable private label brand with a small SKU range, most sales on Amazon, an evergreen niche and strong reviews. A registered trademark, Brand Registry and low owner involvement make the brand easier to buy and run.

What business metrics do aggregators care about most?

Net profit is the first number they check, followed by profit margin, revenue trend and SKU concentration. Most aggregators want margins of at least 15%. They also review ad spend, inventory turnover, review ratings and how many hours the owner works each week.

How much do Amazon aggregators pay for a brand?

Most deals are priced as a multiple of trailing 12-month net profit, plus the value of inventory. On our marketplace, FBA businesses typically sell for 1.6x to 3.7x annual net profit, and the 2025 average was 2.1x. Get an estimate with our free valuation tool.

How are aggregator offers usually structured?

Most aggregator offers pay the larger part in cash at closing and the rest as an earnout over the following months. Once you sign the letter of intent, you usually cannot talk to other buyers while the aggregator runs due diligence, and it can still walk away. Read our deal structuring guide.

Should I sell to an aggregator or a marketplace buyer?

Sell to whoever pays the best price on the safest terms, and the only way to know is to get competing offers. A brokered listing puts aggregators, private equity and individual buyers in the same process, and each counteroffer must be at least 10% higher than the last. Start by selling your business with us.

How long does it take to sell an Amazon FBA business?

On our marketplace, the average FBA business sells in 114 days. After the sale, our migrations team transfers the business, followed by a 14-day due diligence period for the buyer.

What does it cost to sell an Amazon brand through Empire Flippers?

You pay a success fee only when the business sells. It is a flat $10,000 up to $70,000, 15% up to $700,000, 8% of the portion from $700,000 to $5 million and 2.5% above $5 million. Try the commission calculator.

Is Amazon a marketplace or an aggregator?

Amazon is a marketplace. Aggregators are separate companies that buy brands which sell on Amazon.