USA: Foodbuy.com Announces Agreement to Acquire Foodservice.com
As part of the agreement, Foodservice.com will provide its current online services -- employment listings, an eMarketplace featuring a comprehensive database of more than 34,000 product and 23,000 company listings, tradeshow information, discussion forums, classified ads, daily market prices, foodservice books, industry and technology news and editorials -- to foodbuy.com's members. In addition, Foodservice.com co-founders Karin Wertheim and David Smania will join foodbuy.com as vice president of E-Business Services and director of E-Business Services, respectively. They will relocate the company's office to Atlanta and join foodbuy.com within 90 days.
"With the Foodservice.com acquisition, foodbuy.com now provides the most comprehensive and inclusive Web site for the foodservice industry -- linking operators, distributors and manufacturers together," said Scott MacLellan, president and CEO, foodbuy.com. "When combined with Foodservice.com's robust employment center and customized manufacturer storefronts, we will be the single, most-active business community for foodservice professionals, offering dramatic new services and cost-savings that set us apart from other online foodservice companies."
"Over the last three years, Foodservice.com has successfully built a recognizable brand within the industry that provides valuable online services to foodservice professionals," said Karin Wertheim, CEO, Foodservice.com. "By combining our significant repeat user base with foodbuy.com's business model and an industry-experienced management team, we create the strongest and most comprehensive B2B vertical in the foodservice industry."
Foodbuy.com currently offers solutions for purchasing services, rebate management services and auditing. The company works with customers from various foodservice markets, including restaurants, hotels, schools, universities, prisons, military bases and healthcare institutions. Recently, the company announced an alliance with Morrison Management Specialists that increased its aggregated purchasing power to more than $1 billion.
Foodservice.com, which has a registered user base representing $1.2 billion in purchasing power, attracts more than 160,000 foodservice professionals monthly representing both the commercial and non-commercial segments.
Founded in 1997, Foodservice.com is the leading B2B e-commerce and vertical online community created specifically for the $376 billion foodservice industry. Foodservice.com has a registered user base representing 1.2 billion dollars in purchasing power. The site attracts over 160,000 visits from foodservice professionals each month, making it the most active site in the foodservice industry.
Foodbuy.com, headquartered in Atlanta, GA., is a leading provider of business-to-business e-commerce services for the $150 billion foodservice marketplace and has a growing group of investors, including CMGI @Ventures, CMGI's venture capital affiliate (Nasdaq: CMGI - news) and Morrison Management Specialists Inc. (NYSE: MHI - news). Foodbuy.com has more than $1 billion in aggregated purchasing power and provides technology, purchasing, networking and consulting solutions for more than 4,000 operators, representing all segments of the foodservice industry, including restaurants, hotels, schools, universities, prisons, military bases and healthcare institutions. Programs offered today include group purchasing, rebate management and compliance auditing, along with customized consulting. For more information on foodbuy.com programs and services visit www.foodbuy.com.
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