Italian ShopFully acquired the Tiendeo platform for 35 million euros

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Italian ShopFully acquired the Tiendeo platform for 35 million euros

The Italian ShopFully announced the acquisition of 100% of Tiendeo, after paying 35 million euros (more than 144,000 million pesos). With this operation, the company will have a presence in 12 countries and will become one of the leading global players in the retail sector.

This operation is part of the expansion strategy of the Italian firm and marks its entry into the Latin American market. In addition, it represents an audience of 45 million active users and a portfolio of more than 400 clients recognized worldwide.

“With this synergy between both teams, in addition to sharing knowledge and resources to develop more innovative solutions, we will learn a lot from the efficiency that characterizes their business processes to strengthen our growth in Latin America,” said Eva Martín, co-founder of the platform. I tend.

While 75% of consumer goods purchasing decisions are made through digital channels, 80% of sales are still made in physical stores. In this context, it is estimated that in the coming years 70% of retail growth will come from the physical channel.

ShopFully and Tiendeo They seek to transform the traditional advertising formats on paper that they use retailers and brands to a digital format, in which, in addition to personalizing communication, there are important advantages both economically and in terms of impact on the environment.

Likewise, they aim to facilitate purchase decisions made through digital channels and made in physical stores, thus connecting millions of consumers around the world with the stores around them, saving them time and money and at the same time promoting local sales of retailers and brands.

Currently, 75% of purchasing decisions for consumer goods are made through digital channels. – Photo: GettyImages/iStock/Ijeab

The CEO and founder of ShopFully, Stefano Portu, assured that “Tiendeo’s presence at an international level will allow us to consolidate our leadership in Europe and be the gateway to develop and grow in Latin America, building even more value for our customers and consumers, thus becoming the global leader in Drive to Store”.

In recent years, ShopFully has registered an important growth trend, both organic and inorganic, with a history of acquisitions that includes the integration of PromoQui and VolantinoFacile in 2020. Following the acquisition of Tiendeo, its founders Eva Martín, Jonathan Lemberger and María Martín will occupy leadership roles in the senior management of ShopFully.

Cementos Argos created a company in Bermuda

Cementos Argos announced the constitution of a new company called BMR Ltd. and is domiciled in Bermuda. The company owns 100% of its shares.

The creation of this new company was carried out to be a financial vehicle that will participate in the reinsurance market to manage the risks of Cementos Argos.

Cementos Argos assured that the creation of this captive company constitutes the implementation of a good practice in risk management, thanks to the maturity that the company has reached in managing its risks and their geographical diversification.

The plant located in Roberta, Alabama, and its terminals in Wilmington, Statesville and Durham will convert their production to Portland Limestone Cement (PLC) type IL by the end of the second quarter of 2022. Photo: Cementos Argos
The new company is called BMR Ltd. and is domiciled in Bermuda. – Photo: Photo: Cementos Argos

The main objectives that Cementos Argos intends to achieve with the creation of this company are the stabilization of the total cost of risk in the long term, a more active intervention in the reinsurance and insurance market, and participation in taking predictable risks, studied and over which the company has control.

Likewise, Cementos Argos assured that, thanks to the creation of this company, in the long term it will be able to achieve significant improvements in operational risk management and in their transfer.

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