Coles Myer acquires Shopfast
- — 21 May, 2003 12:19
Coles Myer has acquired online grocery retailer Shopfast in a deal that will make it Australia’s largest online food retailer.
The move will see Coles Online acquire the Shopfast customer database, operating system software, delivery vehicles and material handling equipment.
Coles Myer did not disclose how much the deal was worth.
Managing director for the Coles Myer emerging business division, Jon Wood, said the online business would benefit from what was a ‘relatively limited capital outlay’.
“The acquisition of Shopfast will enable Coles Myer to quickly leverage the additional volume from Shopfast against Coles’ buying capacity and Australia Post’s fulfilment,” Wood said.
“The commitments to a long term pick and pack solution with Australia Post, the commencement of marketing as well as the acquisition of Shopfast are part of Coles Online’s growth strategy.”
Cole Online and Shopfast will continue to operate as separate brands, but pick, pack and delivery will be integrated using the Australia Post fulfilment centre.
