Retail-tech company PDI Technologies said Friday it is acquiring Skupos, a tech platform connecting independent c-stores with major consumer packaged goods (CPG) brands.
The companies expect the transaction to close Friday afternoon. They did not disclose the terms of the deal.
San Francisco-based Skupos, which provides a two-sided marketplace to a network of about 15,000 independent retailers, received about $22.5 million in venture dept financing in March, the company said. About 80% of c-stores are smaller companies, Skupos Chief Revenue Officer Christine Shriver told CSP earlier this year. “The entire market is about $278 billion in in-store sales. If you look at total sales volume, 67% is within small chains and independent locations,” she said.
Skupos offered two core product lines to retailers. Insights delivered data to help the independents make business decisions, while Engage involved marketing programs with major brands, including promotions, product discounts and rebates, Shriver said.
Shriver said Friday she was excited about what the acquisition will mean to Skupos’ clients, who are primarily small chains and independent, family-owned businesses. “It’s the perfect marriage to give retailers an end-to-end solution for the stores to really compete in the marketplace,” she said.
PDI’s network of independents will grow to about 25,000 retailers with the acquisition, Shriver said. Skupos employs about 100 people, but not all will be staying on as the companies combine, she said. “Some of the team will transfer to PDI. There are some duplicative roles, so there will be some that exit,” she said.
Besides expanding its footprint with the Skupos acquisition, PDI aims to help the independents become more profitable, the company said. “Skupos has achieved impressive scale in the independent and small-chain channel,” said Jamie Hudson, senior vice president and general manager of media, offers and insights at Alpharetta, Georgia-based PDI Technologies.
Jake Bolling, co-founder and CEO at Skupos said, “Since our founding in 2016, Skupos has been mission-oriented to drive better business outcomes for entrepreneurial, independent retailers by connecting them with CPG companies wanting to optimize sales in the convenience channel. I’m incredibly proud of what our team has accomplished in a short period of time and how PDI will catalyze our mission further in this next leg of the journey. The industry stands to benefit greatly.”
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