Overland Park, Kansas-based Storewise has announced the acquisition of MarginMAX, a software company that enables independent grocers to manage direct store delivery and wholesaler items through a suite of cloud-based applications, including a vendor portal, pricing engine and receiving application.
Financial terms of the transaction were not disclosed.
MarginMAX’s software platform more than doubles Storewise’s visibility into store operations through DSD item coverage and the vendor portal that already includes more than 600 registered vendors. As a result, more items are captured and analyzed within the Storewise platform, generating greater results and profitability. As part of the Storewise platform, independent grocers will gain the capability to optimize pricing, movement and margins for every item in the store.
“We are incredibly excited to welcome MarginMAX to Storewise,” said Christopher Greco, president and CEO.
“The acquisition underscores our commitment to equip independent grocers with a simple, unified software platform to optimize their operations. MarginMAX perfectly complements our platform, enabling independent grocers to manage both DSD and wholesaler items. The MarginMax team also brings greater wholesale and retail operator know-how to Storewise.”
The addition of MarginMAX further strengthens its position as a platform for independent grocers. The combined platform enhances the capabilities of the pricing, risk and sales reporting solution and allows customers to automate discount configuration and price optimization with more wholesalers and DSD vendors.
“MarginMAX and Storewise have a common goal of empowering independent grocers, which makes this combination a perfect match,” said Steve Miller, CEO of MarginMAX.
“We are eager to integrate our expertise in vendor management into Storewise’s platform and look forward to bringing even more value to our customers in the independent grocery sector.”
MarginMAX is Storewise’s first acquisition since Nexa Equity, an application software and fintech-focused private equity firm, invested in the company. The MarginMAX management team will join Storewise. Greco and management will lead the combined entity.
“This strategic combination furthers Storewise’s mission to develop a unified, end-to-end platform for independent grocers,” said Vlad Besprozvany, founder and managing partner of Nexa Equity. “We foresee this as the first of many strategic initiatives to empower independent grocers with enhanced technology.”
For more information, visit storewise.io.
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