Buyers Edge Platform has announced a significant investment from Bregal Sagemount, a New York-based growth capital fund.
The transaction, for which financial terms have not been disclosed, will enable the company to pursue accretive mergers and acquisitions, invest in strategic growth initiatives, and make further platform innovations.
Buyers Edge is the leading provider of procurement software, scaled group purchasing, and data analytics to the food service industry.
The firm’s chief executive officer, John Davie, said, “When I founded Dining Alliance in 1998, I knew that growth was paramount for success.
“We started by targeting the independent restaurant market and have now created and acquired brands that reach thousands of multi-unit concepts, casinos, hotels and lodging properties, entertainment venues, higher education institutions, and other food service operators.
“This new partnership with Bregal Sagemount affords us the capital and guidance to bring new partners and companies onto the Buyers Edge Platform and continue our exponential growth trajectory.”
Phil Yates, a partner at Bregal Sagemount, added: “We are thrilled to partner with John, and the rest of the team at Buyers Edge to support the company’s next phase of growth.”
“We believe procurement networks in the food services space will follow a similar adoption curve to the healthcare sector.
“Given the restaurant market is largely unpenetrated, we see an exciting opportunity to continue to deliver savings to new members while providing our manufacturer and distributor partners with increased visibility and transparency into their downstream supply chains.”