Agribuys, provider of the only purpose-built, end-to-end, relationship-driven global e-procurement solution for the food industry, on Friday, announced the opening of its first European subsidiary, Agribuys U.K., located near London.

“The launch of the U.K. office is part of Agribuys’ strategy to establish local offices in key markets around the world. It’s exciting to see our vision become a reality as we build a network to better support our global customers,” said Marina Kotsianas, the company’s president and chief executive officer. “We opened our offices in Australia and India in August, launched our Canadian subsidiary two weeks ago, and today we are celebrating our European debut.”

“This is the first in a series of moves designed to make Agribuys’ technology and solutions available to major retailers, food-service operators and suppliers in the European Union,” said Bob Atkin, Agribuys representative in charge of international partnerships. “We have been encouraged by the enthusiastic response of the European market. Both food buyers and suppliers seem pleased with how well the functionality of our Web-based technology mirrors the activities of their relationship-driven supply-chain operations.”

“What makes our e-procurement system so user-friendly and intuitive is the way it re-creates online the mechanisms by which business is conducted every day by buyers and suppliers in the food industry,” said Kotsianas.

“It is very important to Agribuys that we have a local presence in every country in which we do business, so we have a clear understanding of each market’s specific requirements and can custom-design tools to meet our customers’ needs. This local presence also allows us to respond rapidly to customer inquiries and guarantee that every system integration goes smoothly,” she added.

Dhruba Kalita, Agribuys’ executive vice president and chief technology officer, continued: “Agribuys’ rapid global expansion has been made possible by two factors. Our technology platform was designed to accommodate multiple currencies, languages and time zones from day one. And we have just received $32 million in support from business-to-business e-commerce company Internet Capital Group (Nasdaq:ICGE – news) and our global strategy partners — and now have the necessary resources in place.”

About Agribuys

Agribuys is a leading global provider of integrated Web-based procurement services for the food industry. Having recognized that the process extends far beyond a simple transaction model, the company provides preorder, transaction execution and post-order services in multiple food segments, including produce, meat, poultry, seafood, ingredients, dairy and floral. These services are seamlessly incorporated into its customers’ front-end sales systems and back-end information systems, facilitating collaborative supply-chain management.

The Agribuys management team is a thought leader in the industry, combining deep food-industry domain expertise with extensive technology and e-commerce experience. Based in California, with offices in India, Australia, Canada and the United Kingdom, Agribuys is rapidly expanding to further broaden its global procurement platform.

For more information, visit the company’s Web site at www.agribuys.com or call 877/499-3052.