- Magazine Luiza has completed the acquisition of VipCommerce, a software as a service startup that works with grocery chains managing the entire process from purchase to last-mile delivery;
- Financial terms were not disclosed;
- The company stated that the acquisition represents another step in its strategy towards digitizing the Brazilian retail, adding that it may support its other services such as Magalu Pagamentos (its payments arm) and Magalu Deliveries (its logistics operation).
Brazilian retail giant Magazine Luiza announced it has completed the acquisition of VipCommerce, a software as a service startup. The company did not provide transaction values.
Headquartered in Belo Horizonte, VipCommerce technology is in over 100 supermarket chains, with 400 stores distributed in 18 states, currently processing about BRL 250 million in annual sales.
In addition to the online store, the platform services include full management of the order cycle, from purchase to last-mile delivery.
“The acquisition of VipCommerce will allow thousands of supermarkets to join forces with Magalu,” said the retailer in a statement to the Securities and Exchange Commission (CVM).
The company also stated that the acquisition represents another step in its strategy towards digitizing the Brazilian retail, adding that it may support services such as Magalu Payments and Magalu Deliveries.
Translated by LABS
