Jüsto, the 100% digital super market with a presence in Mexico and Brazil, made the first acquisition of an important player in the region: Freshmart, the main pure online supermarket in Peru.
The company did not disclose details of the amount of the transaction. However, the Mexican company was already a minority partner since the last capital raise of Freshmart, which today holds between 18 and 20% of groceries’ digital commerce market share in Peru.
After the purchase, Freshmart, which was founded in 2016, will operate independently maintaining synergies with Jüsto in terms of Artificial Intelligence and technological development.
“At Jüsto we were born with the ambition to transform the consumer industry and partner with entrepreneurs from across the region, these alliances allow us to expand operations. Today we are in Brazil and with Freshmart we also have a presence in Peru with a supermarket that has 8 thousand products, “said Ricardo Weder, founder of Jüsto, in an interview with Forbes Mexico.
Weder explained that today Freshmart has 150 collaborators and, although the operation will work individually between Jüsto and Freshmart, the two companies will constitute a holding company to increase their presence in the region, with Colombia and Chile being the next markets to be addressed.
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The digital scheme and the values are very similar between Jüsto and Freshmart, since the goal of both platforms is to offer greater freshness and quality in the products, convenience, deliveries in time and form, service, an unmatched shopping experience and the use of the technology in favor of users.
For his part, Sebastián Otero Vegas, Co-Founder and CEO of Freshmart said in a statement that his company, 100% originally from Peru, will experience greater growth from Jüsto, both in sales and geographically.
“We are very excited about the challenges and lessons that come for the next few years, we are proud to join forces with a Mexican company that is transforming the consumer industry in Latin America,” he said.
Freshmart’s evolution since its start-up has been very positive. In recent years, they multiplied the precovid business 7x and with the participation of Jüsto they expect a growth of 10x in the next five years, in addition, one of the main indicators in the consumer industry, especially in online supermarkets, is retention of frequent customers, an aspect in which the company has remained in historical figures.
This acquisition represents a historic milestone for the entrepreneurial ecosystem of Peru, as it is the first exit where Utec Ventures, Freshmart accelerator, will benefit from the monetary transaction. The acquisition will allow Jüsto to continue to revolutionize the supermarket industry at the regional level, applying fairer practices that put the well-being of consumers and local suppliers first.
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