HGGC has announced that efforts to partner with Mi9 are in advanced stage. Through a press statement, the company has announced that talks have been going on for several months to ensure requisite channels are followed. “As things are, the merger will soon be going public,” said the statement. This latest merger, if goes through as planned, will elevate HGGC’s MyWebGrocer to becoming one of the fastest growing private-owned consumer packaged goods provider in California. Since it was started, MWG has become one of the reputable digital media providers that directly deal with various Consumer Packaged Goods (CPG). Mi9 Retail, on the other hand, takes credit as the premium omnichannel retail solutions provider. Respida Capital and General Atlantic jointly own the company. The trio, Respida Capital, HGGC, and General Atlantic have vowed to support the merger until it is sealed.
Upon completion of the deal, it is expected that MWG will acquire more than 500 new customers. While the company already services several reputable clients, it will be an added advantage that HGGC’s MyWebGrocer will add more clients to its list. Currently, the company serves a number of high-end brands in the world. They include Abercrombie & Fitch, ShopRite, BevMo!, Nike, Levi’s, Giant Eagle, Cole Haan; Tommy Bahama, and Shopko among other companies.
Speaking about the progress of the new collaboration, Chief Executive Officer and Co-founder Richard Lawson said, “Mi9 has a proven track record of successfully integrating best of breed retail software technology companies. Adding up MWG to it is a natural step to the company.” Mr. Lawson, who has been with the company for many years feels that the merger will be the greatest thing in 2019 and beyond. HGGC, which was founded in 2007 enjoys a long list of reputable clients who have made this company based in Palo Alto acquire $4.3 billion worth of assets since its inception.
Regarding HGGC’s collaboration with General Atlantic and Respida Capital’s Mi9, Lawson added, “We look forward to partnering with Mi9’s retail management to help execute their vision and their continued effort to revolutionize the software retail industry through the application of the timely innovative technology.”