Acquisitions are hitting our newswires recently thanks to Invafresh. The fresh grocery platform has announced the acquisition of Whywaste, a leading provider of end-of-life product solutions for grocery retailers and convenience stores, to help reduce food waste, maintain regulatory compliance, and increase profitability.
“I’m excited to welcome Whywaste as part of the Invafresh team and look forward to working with them to expand the global footprint of our combined Fresh Retail platform offering,” said Tim Spencer, Chief Executive Officer at Invafresh. “Throughout the due diligence process, I was impressed by both the caliber of talent at Whywaste and the quality of their products. That talent and product quality has allowed Whywaste to establish themselves at the forefront of the rapidly growing sustainability movement by enabling grocery retailers to profitably reduce food waste.”
This acquisition sets the stage for accelerated global growth for Invafresh and extends the functionality of its AI/ML enhanced Fresh Retail Platform with Whywaste’s end-of-life solutions including advanced date checking, markdown price optimization, and donation platform capabilities.
As noted in the release, customers using the Whywaste platform on average realize 30 percent less waste and a 17 percent increase in revenue from optimizing discount pricing. Merging the two platforms will provide grocery retailers with a platform to drive revenue, reduce shrink, deliver a superior shopping experience to their customers, and help retailers achieve their sustainability targets.
“With the innovation Invafresh brings to the grocery retail market with their Fresh Retail Platform, partnering with them is the natural evolution for Whywaste,” said Kristoffer Hagstedt, Chief Executive Officer at Whywaste. “Food waste is a global challenge, and our combined solution gives grocery retailers a proven approach to reducing shrink and helping them achieve their sustainability goals.”
Deli Market News will keep an eye out for more growth and updates from our industry.