iFresh to Acquire Jiuxiang Blue Sky Technology Co.
LONG ISLAND CITY, NY - Even in challenging times, there are some companies that just can’t be stopped when it comes to global growth. iFresh is one of those buy-side behemoths making strides this month, as it reveals its entry into an acquisition agreement to acquire 100 percent of Jiuxiang Blue Sky Technology Co.
“We are excited to welcome Jiuxiang to iFresh’s platform,” said Long Deng, Chairman of iFresh. “Due to Jiuxiang’s technological expertise and comprehensive supply chain financial service offerings and capabilities, iFresh believes it will be able to expand to a broader customer base that the company had previously limited access to, unlocking a key market for our online grocery business. We are confident that the deployment of Jiuxiang’s integrating supply chain platform will help us operate more efficiently, while simultaneously gaining an edge on the competition.”
A leading Asian American grocery supermarket chain and online grocer, iFresh has its sights set on building a wide-reaching footprint and a robust platform for success.
So, what part does Jiuxiang play in all of this? As a technology company that engages in supply chain financial services, integrated payment systems, and prepaid card marketing systems, the company looks to satisfy customer demands for green products and services and improve environmental performance, according to a press release.
“We are honored to be joining with iFresh, a well-established Asian chain supermarket. The acquisition represents an excellent opportunity for Jiuxiang to launch its market-leading technology in the U.S., a clear next step to further increase our global scale,” Ming Liu, CEO of Jiuxiang, commented. “We are looking forward to working with iFresh’s experienced management team to bring a best-in-class retail mobile technology platform to the U.S. iFresh’s products and service lines have many similarities to the clients we serve in China that have been benefited from our advanced well-connected mobile marketing platform. Our combined extensive knowledge of the retail grocer market and our integrated online technology operating system is expected to benefit our customers, in turn supporting the continued future growth of iFresh.”
Jiuxiang’s products adopt an integrated operating model and centralized IT-infrastructure to help clients capitalize on new digital capabilities, including enhanced connectivity, online-to-offline shopping experience, digital payment systems, and customized SME system platforms.
The closing of the acquisition is subject to customary closing terms and conditions.
A mover and shaker steps up to the expansion stage, and there appears to be no signs of slowing for this industry giant.