Mercatus Technologies, an e-commerce company based in Toronto, has merged with Tel Aviv-based Stor.ai to form a new global brand.
The newly merged company will be called Mercatus. It will operate as a wholly owned subsidiary of Relationshop Inc. to create a connected commerce ecosystem in North America, Europe and the Middle East.
“Mercatus has been at the forefront of serving the digital commerce needs of regional grocers and supermarkets for over 15 years. This merger increases our capability to deliver unprecedented value to our clients by combining our proven technology and eCommerce expertise with the innovative shopper engagement and personalization solutions from Relationshop,” Sylvain Perrier, newly appointed president of North America and global COO, said in a statement.
The company’s client base now extends across more countries and continents, with over 1,800 regional grocery chain stores in the U.S. and more than 400 independent grocery stores globally, including locations in the U.K., France and Canada. Noteworthy supermarket customers include Albertsons, United Supermarkets, Big Y Foods, Buehler’s Fresh Foods, Carrefour and more.
Relationshop acquired Stor.ai, an e-commerce solution for independent grocers based in Tel Aviv, in Jan. 2023. Terms of the deal were not disclosed.
Galen Walters, a visionary leader, founder and CEO of Relationshop with five decades of grocery retail experience, will serve as the new CEO of Mercatus. Piper Sandler and Solomon Partners were financial advisors to Relationshop and Mercatus, respectively.
“Grocery retailers need flexible, automated solutions capable of addressing the competitive threat posed by national chains and the loss of control that comes from relying on third-party delivery providers. As we look to the future, we are excited to join forces, enhancing our offerings to uniquely satisfy the evolving demands of supermarkets and our customers worldwide,” Walters said.