fsXchange, the e-marketplace for the foodservice equipment and supply (FES) industry, today announced that Hobart Corporation, a leading global food equipment manufacturer, has joined the exchange as an equity participant. Under the terms of the agreement, Hobart has taken a 5% equity stake in fsXchange.
Additionally, John McDonough, Hobart’s Vice President of Sales and Marketing of its Foodservice Division has been named to the fsXchange Board of Directors.
With the addition of Hobart, fsXchange has, by far, the FES industry’s largest membership commitment to a serious B2B solution, counting among its participants 26 of the leading foodservice equipment and supply manufacturers, which combined represent more than $4 billion of the industry’s total annual sales.
Hobart brings to fsXchange its leadership position, unique knowledge of the industry, and the broadest equipment offerings in the FES industry, along with more than 20 years of computer-based order processing, manufacturing and business management experience. Hobart’s announced participation in the exchange is further proof of fsXchange’s growing reputation as the leading provider of Web-enabled services for the FES industry.
“We are extremely pleased to welcome Hobart and John McDonough to fsxchange,” said fsXchange Chief Executive Officer Eric Boelter. “The sheer volume and range of product offerings that Hobart brings to the table makes them a highly valued participant and we look forward to integrating them into the exchange.”
fsXchange is increasing the participation of notable foodservice providers and hospitality companies and exploring partnerships and alliances with other food industry e-Markets. In the future, fsXchange will enable foodservice customers to conduct e-business transactions in other related vertical e-Markets through portal convergence networks and alliances.
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fsXchange also plans to adopt industry standards currently being developed by the North American Food Equipment Manufacturers (NAFEM) and the Food Equipment Distributors Association (FEDA).
“Hobart believes fsXchange represents the best Internet opportunity in the foodservice industry, blending the value-added benefits of traditional distribution practices with the convenience, cost-savings and efficiencies of Web-enabled business,” said McDonough. “fsXchange places unique emphasis on the value of traditional FES business relationships — those marketplaces that focus exclusively on price or convenience tend to overlook the value of this critical element.”
Other equity participants in fsXchange include: Adams-Burch Inc., Atlanta Fixture, Beltram Foodservice Group, The Boelter Companies, Carlisle Foodservice, Foodserv Equipment & Supply Inc., Food Service Holdings, Franke Contract Group, Gill Group, Inc., Intermetro, M. Tucker Co., R.W. Smith, S.S. Kemp & Co., Specialty Equipment Companies (NYSE: SEC), Strategic Equipment & Supply, Vollrath, and The Wasserstrom Company.
fsXchange is the e-marketplace for the foodservice equipment and supply (FES) industry, enabling more efficient commerce for the entire foodservice industry — including manufacturers, dealer/distributors and foodservice providers. fsXchange was formed by a coalition of companies within the FES industry with long-standing relationships and shared business interests. The exchange is open and neutral, encouraging participation from the entire foodservice industry. With more than $4 billion in annual sales, fsXchange’s participating companies represent a significant share of the $18 billion FES market. Together, these companies make or market foodservice equipment and supply products representing 100% of all FES product categories. For more information, please visit www.fsxchange.com.
About Hobart Corporation
Hobart Corporation is the world’s leader in commercial food equipment and service for the foodservice and food retail industries. Hobart manufactures products for refrigeration; warewashing and waste handling; food preparation; baking; cooking; and weighing, wrapping and labeling systems. To learn more about Hobart, visit www.hobartcorp.com.