The past few weeks have been some of big transitions and changes for Walmart, starting with the expansion of its drone delivery program and the announcement that its Chief Financial Officer would be stepping down. Now, the retailer’s Canadian division, Walmart Canada, has revealed an agreement to acquire Foodmaestro, a Toronto, Canada-based data platform, as it looks to expand its omnichannel portfolio.
“We are very excited to welcome Foodmaestro to the Walmart Canada family,” said Horacio Barbeito, President and Chief Executive Officer, Walmart Canada. “Together we will continue elevating the online experience for our customers by sharing knowledge [and] investing in resources, people, and product transparency. This enhancement to our online experience will allow our customers to make healthier personalized choices, which helps them live better.”
Foodmaestro partners with retailers and food companies across Europe and North America to turn substantial amounts of data into usable attributes. According to a press release, the platform delivers transparency and rich digital experiences for customers focused on health and diet and offers customized content activation such as meal planning.
This acquisition will position Walmart Canada to elevate its e-commerce experience. The retailer will now be able to offer more personalization capabilities for its customers, such as highlighting safe products for those with food allergies or healthier options for people living with diabetes.
“The acquisition of this talented team of experts from Foodmaestro is a big part of our transformation at Walmart Canada,” said John Bayliss, Executive Vice President, Chief Transformation Officer of Walmart Canada. “I am energized by what the future brings with our talented team of engineers and health and wellness resources working together to make the online experience even better for our customers.”
Foodmaestro’s platform processes over 14 million product attributes, 300,000 search requests, and six million product validations in real-time on a daily basis. The service helps to differentiate customer experiences and deepen relationships through enriched dietary information. Foodmaestro also enables its clients to provide greater product transparency and trusted information through SmartLabel.
“Having spent the past several years pioneering digital transparency and helping shoppers around the world to find the right foods, we are thrilled to have been invited to join a family as prestigious as Walmart,” said Jaed Khan, Founder and Chief Executive Officer, Foodmaestro. “We have worked with Walmart for almost four years now, and this investment signals Walmart’s continued commitment and increased focus to help provide consumers with the transparency they need to make informed decisions about the products they buy. We are tremendously excited about the future.”
Through the acquisition, Walmart Canada will bring in the Foodmaestro experts, including engineers and health and wellness talent. This is Walmart Canada’s first acquisition since the pandemic, demonstrating its commitment to innovation and continuing to transform its customer experience.
As the big-box chain pursues further expansion in North America and beyond, Deli Market News will bring you the latest updates.