USA: Agribuys closes US$5m in series 'C' funding
Torrance, Calif.-based Agribuys, a supply chain software solution provider to the perishable food industry, has closed US$5m in Series "C" funding.
"Our recent round of funding positions Agribuys to continue the expansion of its Collaborative Commerce Platform and to achieve profitability and positive cash flow in 2003," said Vijay Yajnik, CEO and president: "We plan to invest in increasing the capacity of our production and disaster recovery sites that will support the needs of Ahold US and the other premier grocery retailers we are working closely with.
"In addition, we currently plan to use the funds to aggressively market to other premier grocery retailers and their suppliers. Our product has arrived, and the grocery world needs to know about it."
Southern California-based venture group Rustic Canyon Ventures led the latest funding round, in which the Internet Capital Group also participated.
Tom Unterman, MD of Rustic, added: "The food retailing industry has become increasingly competitive placing intense pressure on supply chain efficiency. Agribuys has demonstrated to several major food retailers that its technology can significantly increase their customer's ability to compete with supply-chain masters like Walmart."
Dutch retailer Ahold has announced that Kerry Underhill has been appointed senior vice president corporate communications, effective 1 July 2005....
Dutch retailer Ahold has reported sales and operating income little changed in the first quarter of 2005, but net income was sharply down because of a one time gain in the first quarter last year....
Food company Premier Foods has today (Monday) announced that it has agreed to buy Marlow Foods, the owner of meat alternative brand Quorn, from Montagu Private Equity for £172m (US$312m)....
Dutch retailer Ahold has announced today (Tuesday) that its chief financial officer Hannu Ryöppönen is to leave the company....
Dutch retailer Ahold today (Wednesday) announced that it had signed a new €2bn (US$2.5bn) credit facility with a syndicate of fifteen banks. ...
Dutch retail giant Ahold has said its net sales declined 1.0% to €13.0bn (US$16.5bn) for the first quarter of 2005....
Rocky Mountain Chocolate Factory, which makes confectionery and franchises confectionery stores, has announced a rise in net income to US$3.3m in the year ended 28 February 2005, compared with $2.3m i...
Supermarket company Giant Food, a subsidiary of Dutch retailer Royal Ahold's US arm Ahold USA, has announced restructuring plans for the remainder of 2005 and 2006....
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