OVERLAND PARK, Kan.--(BUSINESS WIRE)--Storewise, a leading provider of retail automation software for independent grocers, announced the acquisition of MarginMAX, a software company that enables independent grocers to manage direct store delivery (DSD) 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 over 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 of Storewise. “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 Storewise’s position as the leading platform for independent grocers. The combined platform not only enhances the capabilities of the existing pricing, risk, and sales reporting solution, but also allows customers to automate discount configuration and price optimization with more wholesalers and DSD vendors. This will further drive simplicity for grocers by giving them a singular location to manage all their items across all 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 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. Christopher Greco and the Storewise management will lead the combined entity.
Vlad Besprozvany, Founder and Managing Partner of Nexa Equity, said, “This strategic combination furthers Storewise’s mission to develop a unified, end-to-end platform for independent grocers. We foresee this as the first of many strategic initiatives to empower independent grocers with enhanced technology.” Joey Maloney, Principal at Nexa Equity, added, “We are delighted to support Storewise in the acquisition of MarginMAX. We firmly believe that the combination will drive significant value for our customers by streamlining operations and improving profitability.”
Storewise is an Overland Park, Kansas provider of retailer automation software for independent grocers. The company exists to help independent grocers operate more efficiently and compete against big-box retailers by providing them with an easy-to-use software platform that increases profit, automates manual tasks, and reduces errors. Storewise serves more than 700 stores across the country. Schedule a tour of the Storewise platform at www.storewise.io.
MarginMAX is a Baton Rouge, Lousiana-based provider of vendor management and pricing software for independent grocers. The company enables independent grocers and wholesalers to work together more efficiently through the automation of data transfer. For more information, please visit https://www.marginmax.net/.
About Nexa Equity
Nexa Equity is a San Francisco, California based private equity firm that partners with founder-led, rapidly scaling SaaS and fintech companies that address markets underserved by technology to create enduring value for the benefit of its investors and portfolio companies. The firm has more than $300 million in private equity capital under management and is focused on continuing to grow its portfolio of companies. The Nexa Equity team brings substantial investing and operational experience to the table and helps management teams professionalize and scale their businesses while driving long-term sustainable growth. For more information, please visit www.nexaequity.com.