M&A West Inc., which develops, invests in
and operates Internet and technology-related companies, acquired online
grocery site VirtualGroceries.com. Financial
terms were not disclosed.
VirtualGroceries.com markets gourmet foods, wines, recipes, cookware and
kitchenware and gift items through a network of specialty shops from around
the world. The site is being developed in conjunction with Digital Bridge Inc., an e-commerce
and Internet marketing subsidiary of M&A West.
“We’re confident that this acquisition will strengthen our company’s foothold
on the forefront of E-Commerce and will be successful for everyone involved,”
said Scott Kelly, president and CEO of M&A West.
VirtualGroceries.com currently has several affiliations with online food
vendors such as Peapod.com and Digital Chef Inc. Competition includes
other online grocers such as NetGrocer, Streamline, Webvan and Wholefoods.com.
M&A West’s current investments include Virtuallender.com Inc., Workfire.com Inc., Digital Bridge Inc. and
Linux developer and distributor OpenExpress.com Inc.