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Digital delivery service goPuff will acquire BevMo, a specialty beverage retailer based on the US West Coast, according to a goPuff blog post.
The $ 350 million deal is expected to close within 30 days, the Los Angeles Times reported.
The Philadelphia-based GoPuff, which bills itself as a kind of universal service to help customers with various daily shopping needs, hopes to use the ad to enter the California market, the blog post states. BevMo will gain new customers from the agreement, along with access to immediate delivery of everyday items such as baby and pet products, cleaning products, food, alcohol and local specialties.
The blog post advertised BevMo’s loyal customer base and said the company has a “deep infrastructure” and “iconic brand” to match goPuff’s technology-driven system. BevMo has 161 neighborhood stores in California, Arizona and Washington, which goPuff intends to use to complement its micro-fulfillment centers.
The centers will allow goPuff to reach West Coast customers in 30 minutes or less to purchase items in what the blog post called “rapidly expanding” inventory.
BevMo’s Josiah Knutsen said in the post that goPuff “created a truly differentiated approach and defined the category of instant needs,” [which] it will enable us to better meet the ever-changing needs of our consumers, including delivering everyday essentials directly to their homes. We look forward to helping introduce goPuff to California and working together to further improve the experience for BevMo customers and our communities at large, ”he said.
In October, goPuff exited a $ 380 million funding round, PYMNTS reported. The company was founded in 2013, and co-founder Yakir Gola said the company’s idea was to be there when people needed items they would buy from a convenience store. With a mobile app, the need to go out may be reduced.
In separate news, other delivery companies, including Instacart and DoorDash, are going beyond just food delivery. Instacart has partnered with several companies, including Target and Sephora, to offer delivery, while DoorDash has launched virtual convenience stores it calls DashMarts.
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WATCH LIVE: HOW WE PURCHASE – TUESDAY 10 NOVEMBER 2020 – 12:00 (ET)
New forms of alternative credit and point-of-sale (POS) lending options such as “buy now, pay later” (BNPL) harness the growing influence of payment choice on customer loyalty. Nearly 60% of consumers say such digital options now influence where and how they shop, especially robust and well-crafted contactless payments and ecommerce checkouts, so merchants have a clear mandate: understand what has changed and adapt accordingly. . Stick PYMNTS CEO Karen Webster with Greg Lisiewski of PayPal, Mark Rosales of BigCommerce, is Camille Kress of Adore Me as they highlight key findings from the new PYMNTS-PayPal study, “How We Shop,” and chart better and faster paths to a stronger recovery.
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