March 4, 2021
Brazilian retail company Magazine Luiza said Wednesday that it has agreed to buy local e-commerce company VipCommerce Sistemas for an undisclosed amount.
Belo Horizonte-based VipCommerce is a software-as-a-servive company that manages online sales for supermarkets, wholesale clubs and other retailers, Magazine Luiza said in a securities filing.
VipCommerce processes around BRL250 million ($43.4 million) in annual sales at more than 100 supermarket chains with 400 stores in 18 states, Magazine Lu
Brazilian retailer adds VipCommerce to a recent spate of M&A deals