WALTHAM, Mass. — Buyers Edge Platform, the leading software and analytics company providing data-driven insights and technology to the foodservice industry, continues to expand their technology offerings in Europe with the acquisition of Swedish company, Parsly. This marks Buyers Edge Platform’s fifth acquisition in Europe so far in 2024.
Parsly was founded in 2021 in response to the significant challenges facing the restaurant industry during the pandemic. Parsly aims to help restaurants manage their procurement cost more effectively through AI-driven insights and automation. Since the service runs autonomously, it improves its users’ profitability without requiring additional time or focus from the restaurateurs.
Parsly founder Leo Kia shares, “Parsly has experienced strong organic growth, demonstrating the industry’s need for our solution. For example, we captured every third restaurant in Stockholm, Sweden’s largest city and where the service was first launched, within just one year after inception. Today, over 500 restaurants use Parsly, with our AI-enabled platform having analyzed over 1.3 billion SEK in purchases for our users.”
Parsly is looking forward to the enhanced resources and support from Buyers Edge Platform that will allow them to accelerate innovation and development, providing their team with more opportunities to work on advanced projects.
Kia explains, “Buyers Edge Platform was the ideal acquirer for us because of our shared values and commitment to utilizing the latest technologies to help restaurant operators maximize the return on their hard work. BEP’s support and immense reach will empower us to truly deliver on our mission of creating a level playing field for all restaurants, regardless of their size.”
Founder and CEO of Buyers Edge Platform, John Davie, added, “We have always been committed to delivering the best procurement technologies to our stakeholders across the foodservice ecosystem and Parsly is going to add new functionality to our tech offerings. Furthermore, we have been rapidly expanding our European operations and Parsly will bolster our already-established foothold in the European foodservice market.”
About Buyers Edge Platform: Buyers Edge Platform was founded in 1998 with the mission of revolutionizing the foodservice industry through technology, purchasing power, and partnership. Buyers Edge Platform partners with stakeholders across the industry value chain, including operators, distributors, and manufacturers, providing data visibility and purchasing transparency. Underpinned by over $60B of aggregated spend volume, the Company empowers stakeholders to reduce their costs, streamline supply chains, and utilize technology to run their businesses more efficiently and profitably. Buyers Edge Platform’s portfolio of brands delivers integrated solutions across four business units – spanning Digital Procurement Network, Fresh Solutions, Supply Chain Management, and Software – which, combined with over 25 years of operating experience, unlock value for its diversified network of more than 200,000 restaurant operator locations.
About Parsly: Parsly was founded to help restaurateurs save time and money by streamlining supply administration. In 2021, Leo Kia and Ramzi Ferchichi, friends for over 20 years, developed this service to enable restaurateurs to focus on their core business activities and passion, rather than wasting resources on administrative tasks like checking and following up on invoices. Parsly can automate these processes, freeing up time and energy for restaurateurs to use elsewhere.
