Poor quality pile acquired by company (6)

I believe the answer is:
cheapo
'poor' is the definition.
(cheapo can mean of poor quality)
'quality pile acquired by company' is the wordplay.
'quality pile' becomes 'heap' (synonyms. I am not sure about the 'quality' bit.).
'acquired by' is an insertion indicator.
'company' becomes 'co' (abbreviation).
'heap' put within 'co' is 'CHEAPO'.
Can you help me to learn more?
(Other definitions for cheapo that I've seen before include "not expensive" , "Extremely inexpensive" , "at rock bottom price" , "of poor quality" , "inexpensive and not much good" .)
