Supply chain software and services providers iTradeNetwork Inc. of Pleasanton, Calif., and Instill Corp. of San Mateo, Calif., with numerous foodservice operators and suppliers among their clients, have agreed to merge, making Instill a division of iTradeNetwork, the companies said.
Under the definitive agreement, the financial terms of which were not disclosed, iTradeNetwork founder and chief executive Robert Bonavito will oversee the combined organization, but “both companies will retain their senior leadership teams.” ITN and Instill said the merger was “in part facilitated by Accel-KKR,” a Menlo Park, Calif.-based private equity firm that acquired controlling interest in iTradeNetwork last December.
“Over the past decade, ITN and Instill have built leading positions in providing collaborative workflow software solutions and spend intelligence [software and services] to the food industry,” Bonavito said. “We believe our consolidated customer base will experience a significant multiplier effect in terms of incremental value creation through the combined solution offerings of ITN and Instill.”
iTradeNetwork said 16 of the top 20 North American retailers and many large foodservice companies, including Sodexho, are among the 4,800 trading partners/customers using the vendor’s software and services for such things as order management, contracts-and-rebate administration and demand forecasting. Instill said its spend-intelligence systems are used by companies such as Yum! Brands Inc., Subway franchisees’ Independent Purchasing Cooperative, Hardee’s, International Dairy Queen Inc., Longhorn Steakhouse, ConAgra Foods Inc. and General Mills.
