Storewise, a provider of retail automation software for independent grocers, has revealed a majority investment from private equity firm Nexa Equity LLC. Storewise’s existing management team will continue to lead the business. Financial terms of the transaction were not disclosed.
Storewise’s software platform enables grocery operators to streamline operations such as price optimization, supply chain and risk management. Automating and optimizing business processes has become critical for independent grocery store operators to be competitive with big-box retailers.
The company plans to use Nexa’s investment to further support its customer base, develop new products and accelerate go-to-market efforts. Storewise and Nexa Equity will partner closely to implement software best practices and execute strategic acquisitions to bolster the functionality of the software platform.
“We’re dedicated to supporting an industry critical to our nation’s economy by building a unified software platform that helps independent grocers operate more profitably and efficiently,” said Christopher Greco, president and CEO of Overland Park, Kan.-based Storewise. “We’re excited to have found a likeminded growth partner in Nexa Equity that shares our core values and will help accelerate our vision. The pace at which Storewise is being adopted and the positive results grocers are experiencing let us know that we’re on the right track.”
Storewise is rapidly expanding and currently serves more than 700 stores.
Vlad Besprozvany, founder and managing partner of San Francisco-based Nexa, noted: “We are thrilled to back Chris and the Storewise team to drive transformation in the independent grocery industry. We’ve been thoroughly impressed by what the Storewise team has built to date and believe that by further investing in product development and strategic M&A, Storewise will be even better positioned to deliver value to independent grocers.”
Associated Food Stores (AFS), a grocery wholesaler that works with independent retailers, and Salt Lake City-based Symbotic Inc., a provider of artificial intelligence (AI)-enabled robotics technology for the supply chain, have entered into a commercial agreement to implement Symbotic’s AI-powered robotic warehouse automation technology in AFS’ Utah distribution center.
Symbotic’s end-to-end automation system, with robotic case pick capabilities, will allow AFS’ distribution center to improve a variety of retail-facing experiences, including overall supply, expanded selection and delivery of products to stores, to accommodate future growth.
“While very important, a modernized distribution system is not just about automation and technology, but also about optimizing processes and empowering people. It’s a strategic investment that can increase efficiency and enhance our ability to service our member retailers,” said Roger White, EVP and COO at AFS.
“We believe implementing the Symbotic system creates great opportunities for our distribution center team members to grow their skill sets and expand their future opportunities with the company,” stressed Glen Keysaw, AFS’ VP of distribution. “Due to the proactive efforts of our management team, all current team members at the distribution center will have jobs going forward and the distribution center will continue supporting current and future independent grocers throughout the Intermountain West.”
Salt Lake City-based AFS is an independent retailer-owned warehouse that provides complete warehouse facilities and services to more than 400 grocers across the Intermountain West.
Trader Joe’s Adds Another Suncoast Location in Florida
Trader Joe’s already operates a store in the city of Sarasota, in addition to locations in nearby St. Petersburg and Tampa. The planned site in University Park will be the 23rd Trader Joe’s in Florida.
On May 5, the grocer opened its latest U.S. outpost in Cypress, Calif. As the retailer expands its footprint, it is also rolling out its latest seasonal items, including summer-inspired jalapeno limeade, patio potato chips and tomato ketchup with black summer truffle, to name a few.
E-commerce solutions provider Mercatus has teamed up with U.K.-based SaaS tech company Eagle Eye to enhance grocers’ digital offerings with more targeted digital promotions. The collaboration allows retailers to leverage Eagle Eye’s consumer engagement platform and Mercatus’ platform for real-time, actionable customer data.
That kind of information leads to tailored shopper experiences that ultimately build loyalty, according to company leaders. “By partnering with Eagle Eye, we are able to offer our clients cutting-edge customer engagement solutions that will revolutionize their e-commerce experiences and help them stay ahead of the competition,” declared Sylvain Perrier, president and CEO of the Toronto-headquartered Mercatus.
Echoed Tim Mason, Eagle Eye’s CEO: “We are excited to collaborate with Mercatus and bring our customer engagement solutions to their impressive roster of grocery clients. Together, we will enable grocery retailers to build deeper connections with their customers and capitalize on the rapidly evolving first-party e-commerce landscape.”
Going forward, the companies will explore new ways to leverage their combined expertise and technology offerings to drive growth and create value for their clients. Mercatus, for its part, offers a digital commerce platform used by retailers including Weis Markets, Save Mart brands, Brookshire’s Grocery Co., Kowalski’s Markets, Buehler’s Fresh Foods, WinCo Foods, Smart & Final, Stater Bros. Markets, Southeastern Grocers’ Fresco y Más, Harveys Supermarket and Winn-Dixie grocery stores among others. Eagle Eye’s current customer base includes Southeastern Grocers, Giant Eagle, Loblaw, Woolworths, Asda, Sainsbury’s, Tesco and Waitrose, among others.
Talking Rain Beverage Co., with a portfolio that includes the Sparkling Ice line of drinks, has named Katie Giesler as VP of sales, national accounts. She will oversee a team that services retailers such as The Kroger Co., Albertsons Cos., Walmart, Target Corp. and others.
Most recently, Giesler led commercialization and marketing for Utah-based Swire Coca-Cola, which produces, sells and distributes Coca-Cola products in 13 states in the Western U.S. She held several roles at The Coca-Cola Co. over the years, including VP of national retail sales for Target and VP of national retail sales for the Western region, and started her career at Coca-Cola Enterprises as a district sales manager.
She said she hopes to take the Snoqualmie, Wash.-based beverage company to new heights during her tenure. “Talking Rain has an impressive track record of innovation, and I'm excited to be a part of the team that will continue to drive growth and success. I look forward to working with my new colleagues to strengthen relationships, build distribution, and grow our organic sales,” Giesler remarked.
The National Grocers Association Foundation has hired Brielle Underwood as its project director for the Supplemental Nutrition Assistance Program Electronic Benefit Transfer (SNAP EBT) Modernization Technical Assistance Center (SEMTAC), effective May 1.
Underwood comes to the foundation from The Food Trust, in Philadelphia, where she was a project manager overseeing the organization’s farmers’ market programs and helping with grant reporting and evaluation. A graduate of Berkeley College, in Newark, N.J., with a bachelor of science degree in business administration, Underwood is based in New Jersey.
“We look forward to working with Brielle as she leads the efforts to further SEMTAC’s objective to assist more grocers in getting on board with online SNAP,” said NGA Foundation Director Chelsea Matzen. “She comes to the project with extensive experience navigating federal guidelines and working with advisory groups. She’s also spent the past year earning a software testing and quality assurance certificate, which will go a long way toward building out our TA tracker and assisting retailers with their SNAP online vendor options.”
SEMTAC will instruct retailers on the federal requirements for SNAP EBT modernization, including online purchasing and mobile payment programs.
The foundation received a $5 million grant from the U.S. Department of Agriculture’s Food and Nutrition Service (FNS) to establish a technical assistance center that will lead grocers through the process of implementing online SNAP grocery purchasing. SEMTAC will pave the way for a greater number of smaller grocery operators to offer SNAP online purchasing, making them more competitive and better able to provide service to food-insecure Americans.
The NGA Foundation is the 501(c)3 nonprofit arm of the Washington, D.C.-based National Grocers Association (NGA), the trade organization representing the independent sector of the food distribution industry.