Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
The largest Latin America 400 merchant grew web sales 22%.
It was a busy and ambitious third quarter for B2W Digital as Brazil’s biggest online retailer completed a slew of initiatives to diversify its business operations and e-commerce technology infrastructure.
For the third quarter ended Sept. 30, B2W, No. 1 in the Internet Retailer 2013 Latin America 400 completed two e-commerce technology acquisitions, opened three new distribution centers and launched a marketplace. In October, and for undisclosed amounts, B2W completed the acquisition of Ideais Tecnologia Ltda, an e-commerce systems platform developer, and Tarkena Consultoria, an advanced site search and product recommendation application developer. Both acquisitions were made in order to give B2W a more robust platform to support its growing list of e-commerce sites such as Americanas.com, a mass merchant site with an inventory of more than 500,000 items across 32 product categories.
B2W, which generated web sales of $2.44 billion in 2012, also opened three new distribution centers in the quarter in Southern and Northeastern Brazil. As part of a planned $450 million three-year overall plan to build out its technology and fulfillment infrastructure, B2W plans to open as many as seven more distribution centers in 2014. “We intend to be Latin America’s largest and most beloved digital company,” B2W says in its third quarter earnings release.
Another way the online retailer is expanding is by launching a marketplace on its Submarino.com.br that features multiple storefronts from other Brazilian online and store-based retailers such as BebeStore.br and TuningParts.com.br and others. The marketplace features multiple merchants and a universal shopping cart that enables consumers to shop multiple storefronts with a two- to three-click checkout. “The initiative integrates offers from different stores, expands the assortment of the web site and allows the purchase of multiple products in a single transaction,” the company says.
For the third quarter B2W reported:
- Sales grew 22.4% to $653.9 million from $534.1 million
- Net loss, which B2W calls net financial result was $55.5 million compared with $45.9 million in the third quarter of 2012.