HGGC has announced that it is entering into a partnership with other two companies to form a merger. The new collaboration seeks to help MyWebGrocer, HGGC’s fastest-growing digital media provider increase the number of its clients. Currently, MWG enjoys quite a number of high-end customers. If the new partnership between this company and the other two companies that own Mi9 goes through as planned, MWG will potentially win the ‘hearts’ of Mi9’s high-profile clients. Currently, Mi9 boasts a vast clientele. Majority of the companies that Mi9 serve are top brands from the world that include Nike, Tommy Bahama, Shopko, Cole Haan, BevMo!, ShopRite, Abercrombie & Fitch, and Giant Eagle among other top brands.
During a recent press release, the company said that it will stop at nothing until the merger is sealed. Speaking in behalf of the company, HGGC’s Chief Executive Officer (CEO) and co-founder Richard Lawson expressed optimism that the deal will certainly be sealed. This, in turn, will be a major boost to HGGC, a California-based private equity firm that has maintained a successful record since it was founded in 2007. Current company records indicate that HGGC has over $4.3 billion assets. Although the recent announcement did not disclose all information about the Mi9 Retail deal, there is enough evidence to rule out that negotiations are at an advanced stage. During the announcement, the CEO made it clear that the merger will greatly benefit the company.
“Mi9 has a proven track record of successfully integrating best of breed retail software technology companies. Adding up MWG to it is a natural step to the company. I’m happy to announce that negotiations are at advanced stage and that soon, we’ll be looking forward to reaping the benefits of the merger,” Lawson said. The CEO went ahead to say that as things are, nothing will come in between the deal to disrupt it. He said, “We look forward to partnering with Mi9’s retail management to help execute their vision and their continued effort to revolutionize the software retail industry through the application of the timely innovative technology.”
HGGC, which has its headquarters at Palo Alto, California, has been in the headlines in recent days following its successful track record.