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FAQ'sSeptember 17, 2008
MyWebGrocer acquires Irish firm's U.S. operations
By Dan McLean
MyWebGrocer, a Colchester-based Internet grocery shopping site, has acquired Buy4Now's U.S. operations in a deal valued at more than $15 million.
Buy4Now, a Dublin, Ireland-based competitor of MyWebGrocer, provides e-commerce solutions to grocery retailers and has U.S. offices in Northport, N.Y. The American operations of the European company will now operate as a subsidiary of MyWebGrocer LLC.
The acquisition adds retailers such as A&P, Roche Bros. and New Seasons Market to MyWebGrocer's growing client list, MyWebGrocer CEO Rich Tarrant Jr. said."The combination of MyWebGrocer and Buy4Now is a perfect match of complementary companies," he said.
With the acquisition, which closed Sept. 2, MyWebGrocer has roughly 60 employees and is hiring, Tarrant said.
The deal "puts us in a really good spot as we march forward," he said.
Buy4Now said the sale is valued at "over $15 million" for the shareholders.
Tarrant would not discuss financial details of the deal.
Contact Dan McLean at 651-4877 or dmclean@bfp.burlingtonfreepress.com
Copyright (c) The Burlington Free Press. All rights reserved. Reproduced with the permission of Gannett Co., Inc. by NewsBank, inc.
