Alexandria, VA — August 29, 2008 — Retail supply chain solution provider Agentrics has secured funding from Brazil-based private holding company M. Abuhab Participações (MAP) to support its shareholder-approved strategy to extend sales and product development beyond its primary market.
Under the terms of the agreement, MAP will become Agentrics' majority shareholder. Most of the existing shareholders, which include many of the solution provider's retail supply chain customers, will remain investors as the company continues to leverage insight from its active customer community.
Since its founding in 2000, Agentrics has focused primarily on providing its shareholder customers with best-in-class solutions for e-sourcing, supply chain collaboration and private label product management. Agentrics now plans to extend its offerings to the entire retail industry as well as into new markets such as manufacturing and distribution.
The company sees these areas as having strong potential for the company's sourcing and supply chain solutions as well as its new offerings, which will include solutions for electronic data interchange (EDI), vendor managed inventory, distribution requirements planning, as well as sales and operations planning.
"Having saved the world's leading retailers more than $6 billion through better sourcing and supply chain management, we are eager to extend our value proposition to other organizations looking for new ways to increase profitability and business performance," said Christopher K. Sellers, Agentrics chief executive officer. "With this investment from MAP, Agentrics now has the funding and financial foundation to serve the interests of the broader retail, consumer goods and industrial sectors worldwide. MAP and its portfolio companies present us with significant value as we enter new markets and expand our offerings."
MAP was selected among several interested investors due to its expertise in supply chain management and the vision and experience Abuhab brings to help companies develop win-win customer-supplier relationships.
According to Miguel Abuhab, principal shareholder of MAP: "Agentrics is an established market leader with solutions and services that are highly praised by its customers. The company's relentless attention to customer service and solution results will parlay well into success beyond the world's leading retailers."
MAP holdings include two Brazil-based firms: NeoGrid (www.neogrid.com), a provider of demand and supply chain management solutions, and Datasul (www.datasul.com), a publicly traded provider of enterprise resource planning (ERP) software and services that recently merged with TOTVS (www.totvs.com) and is now among the world's top 10 ERP providers.
"Agentrics is ideally positioned to extend globally the offerings of our portfolio companies, such as NeoGrid, which have experienced 50 percent annual growth in Latin America over the past few years," Abuhab added.
Agentrics customers include such companies as Ahold USA, Best Buy, Canadian Tire, Carrefour, Coles Myer, Coop Italia, Diageo, GlaxoSmithKline, Safeway, Sainsbury's, Tesco and Walgreens, among numerous others.
Under the terms of the agreement, MAP will become Agentrics' majority shareholder. Most of the existing shareholders, which include many of the solution provider's retail supply chain customers, will remain investors as the company continues to leverage insight from its active customer community.
Since its founding in 2000, Agentrics has focused primarily on providing its shareholder customers with best-in-class solutions for e-sourcing, supply chain collaboration and private label product management. Agentrics now plans to extend its offerings to the entire retail industry as well as into new markets such as manufacturing and distribution.
The company sees these areas as having strong potential for the company's sourcing and supply chain solutions as well as its new offerings, which will include solutions for electronic data interchange (EDI), vendor managed inventory, distribution requirements planning, as well as sales and operations planning.
"Having saved the world's leading retailers more than $6 billion through better sourcing and supply chain management, we are eager to extend our value proposition to other organizations looking for new ways to increase profitability and business performance," said Christopher K. Sellers, Agentrics chief executive officer. "With this investment from MAP, Agentrics now has the funding and financial foundation to serve the interests of the broader retail, consumer goods and industrial sectors worldwide. MAP and its portfolio companies present us with significant value as we enter new markets and expand our offerings."
MAP was selected among several interested investors due to its expertise in supply chain management and the vision and experience Abuhab brings to help companies develop win-win customer-supplier relationships.
According to Miguel Abuhab, principal shareholder of MAP: "Agentrics is an established market leader with solutions and services that are highly praised by its customers. The company's relentless attention to customer service and solution results will parlay well into success beyond the world's leading retailers."
MAP holdings include two Brazil-based firms: NeoGrid (www.neogrid.com), a provider of demand and supply chain management solutions, and Datasul (www.datasul.com), a publicly traded provider of enterprise resource planning (ERP) software and services that recently merged with TOTVS (www.totvs.com) and is now among the world's top 10 ERP providers.
"Agentrics is ideally positioned to extend globally the offerings of our portfolio companies, such as NeoGrid, which have experienced 50 percent annual growth in Latin America over the past few years," Abuhab added.
Agentrics customers include such companies as Ahold USA, Best Buy, Canadian Tire, Carrefour, Coles Myer, Coop Italia, Diageo, GlaxoSmithKline, Safeway, Sainsbury's, Tesco and Walgreens, among numerous others.
