Magazine Luiza acquires supermarket e-commerce company

Magazine Luiza acquires supermarket e-commerce company

M&A Brazil Technology Digital Payments

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

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