GrocerKey has been acquired by Point Pickup Technologies, an enterprise-class, same-day fulfillment and delivery solutions company, the company announced recently.
With the acquisition, Stamford, Conn.,-based Point Pickup will now be able to offer retailers the industry’s first end-to-end, own-branded, last-mile fulfillment and delivery service.
“Early on, we were impressed not just by the scale and sophistication of Point Pickup’s technology and services, but also their focus on bringing the customer back to enterprise retailers,” GrocerKey CEO Jeremy Neren said in a statement. “I’m excited to join the Point Pickup team along with our GrocerKey family and am eager to move forward with the integration of our technologies and companies.”
According to a release, Neren, who co-founded GrocerKey in 2014, will serve as Senior Vice President, eCommerce Strategy.
Point Pickup customers include Walmart and Kroger.
Financial details of the acquisition were not disclosed, although the Milwaukee Business Journal reported the deal was valued at $42 million.