Buyers Edge Platform acquires Parsly

EUROPE – Multi-tiered food service software solutions provider Buyers Edge Platform has expanded its technology services in Europe with the acquisition of Parsly, a Swedish restaurant software solutions provider.

The financial details of the acquisition were not made public.

Parsly is an AI-powered software platform that analyzes customer purchasing data to optimize operations among a host of other tasks that saves restaurant partners time and money.

The software platform is designed to help restaurant partners manage their procurement costs, offering autonomous services that enhance partners’ profitability.

Parsly also automates administrative tasks, including invoice management and monitoring fluctuating purchase prices, allowing restaurant owners to concentrate on their core business operations.

It emerged during the COVID-19 pandemic, gaining traction through referrals from restaurant owners satisfied with its service offerings. The platform [primarily focused on Swedish restaurants with annual revenues ranging from US$500,000 to US$5 million.

The company revealed it currently provides its services to 500 restaurant partners in Europe, analyzing purchase data worth more than US$340 million since its inception.

According to Buyers Edge Platform, the acquisition is expected to enhance the procurement management of its European clients by providing data-driven insights that are typically only available to larger restaurant chains.

John Davie, Buyers Edge Platform’s Founder and CEO, said, “We have always been committed to delivering the best procurement technologies to our stakeholders across the foodservice ecosystem and Parsly is going to add new functionality to our tech offerings.”

“We have been rapidly expanding our European operations and Parsly will bolster our already-established foothold in the European foodservice market.”

Leo Kia and Ramzi Ferchichi, Parsly’s cofounders expressed confidence over the acquisition, describing Buyers Edge Platform as the ideal acquirer because of their shared values and commitment to providing only the latest technologies in the food service sector.

The co-founders also anticipate Buyers Edge Platform’s capitalization strength will help in its strategic growth plans in Europe and beyond.

Established in 1998, Buyers Edge Platform collaborates with stakeholders including distributors, operators, and manufacturers, to provide data visibility and purchasing transparency.

The company’s portfolio includes a robust digital procurement network, fresh solutions, supply chain management, and software, delivering integrated solutions to more than 200,000 restaurant operator locations.

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