Storewise Acquires MarginMAX to Better Serve Indies
Storewise, a provider of retail automation software for independent grocers, has acquired MarginMAX, a software company that enables independent grocers to manage direct store delivery (DSD) and wholesaler items through a suite of cloud-based applications that include a vendor portal, pricing engine and receiving application. Financial terms of the transaction weren’t disclosed.
The MarginMAX software platform more than doubles Storewise’s visibility into store operations through DSD item coverage and the vendor portal that already includes 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 be able to optimize pricing, movement and margins for every item in the store.
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“Acquisitions like MarginMAX strengthen our access to data and the competitive tools our platform offers to the independent grocer,” said Christopher Greco, president and CEO of Overland Park, Kan.-based Storewise, which “is constantly innovating with new products to arm the independents against big-box stores. In fact, we’re excited about the positive impact this acquisition will have on the next products we’ll be introducing in the near future.”
The combined MarginMAX/Storewise platform not only enhances the capabilities of the existing pricing, risk and sales reporting solution, but also permits customers to automate discount configuration and price optimization with more wholesalers and DSD vendors. This will give grocers a single location to manage all their items across all of their stores.
“MarginMAX and Storewise have a common goal of empowering independent grocers, which makes this combination a perfect match,” said Steve Miller, CEO of Baton Rouge, La.-based 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.”
This is Storewise’s first acquisition since San Francisco-based Nexa Equity, an application software and fintech-focused private equity firm, invested in the company last month. The MarginMAX management team will join Storewise, with Greco and the Storewise management team leading the combined entity.
