Buyers Edge Platform, a provider of digital procurement solutions for the foodservice industry, has secured $425 million in equity capital.
Backers included a consortium led by General Atlantic Credit’s Atlantic Park fund, as well as funds managed by Blackstone Tactical Opportunities and Morgan Stanley Tactical Value.
As part of the transaction, Bregal Sagemount, Buyers Edge Platform’s first institutional investor, will sell its minority investment in the company, while John Davie, Buyers Edge Platform’s founder and CEO, will grow his majority stake.
Buyers Edge Platform, led by Founder and CEO John Davie, is committed to providing efficiency and visibility to stakeholders within the foodservice ecosystem (operators, distributors, and manufacturers).
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With a diversified portfolio of over two dozen brands, the company seeks to decrease costs, streamline the foodservice supply chain, and shift the sector from manual to automated.
Today, the company is one of the leading players in the foodservice industry, with over 200K operator sites across North America and an aggregate spend volume of more than $60 billion.
John Davie said: “Buyers Edge Platform has always been focused on driving better economic outcomes for foodservice stakeholders through technology. Our new partnership with GA Credit, Blackstone, and Morgan Stanley Tactical Value will enable us to fund key strategic initiatives and provide us with access to these firms’ global platforms and operational resources. Their support will allow us to continue on our mission of delivering even greater efficiency, connectivity, and value to the foodservice ecosystem. We also want to thank the team at Bregal Sagemount for helping to enable our significant expansion over the last five years. Together, we have grown our revenue and profits by ~300% since Bregal Sagemount’s initial investment in 2019. We pursued a highly value-accretive M&A strategy by integrating 21 acquisitions, while driving strong organic growth.”
ABout Buyers Edge Platform
Buyers Edge Platform is a major software and analytics firm that offers data-driven insights and technology to the foodservice industry. We connect companies across the foodservice industry and enable them to manage their operations more efficiently by employing data and analytics.
Buyers Edge Platform’s objective is to transform the foodservice sector from manual to automated through programmes that benefit all stakeholders along the supply chain.
