Buyer’s Edge Platform continues to strengthen its position as the leader in food service procurement and technology. Representing its fifth acquisition in Europe in 2024, the brand recently acquired Swedish-based Parsly.
Founded in 2021, Parsly was developed by founders Leo Kia and Ramzi Ferchichi, who saw a need. Restaurants needed a way to streamline supply administration, saving time and money. From that awareness, Parsly was born, a company that automates administrative tasks such as invoice management.
AI-Powered
Like many of Buyer’s Edge Platforms acquisitions, Parsly is an AI-powered platform. It uses this technology to analyze purchasing data. Since its birth, it has analyzed over 1.3 billion SEK in purchases worth over $140 million, giving it extensive data to use in its analyses. Today, the brand is used by more than 500 restaurants in Sweden.
According to Leo Kia, in a press release by Buyers Edge Platform, “Parsly has experienced strong organic growth, demonstrating the industry’s need for our solution. For example, we captured every third restaurant in Stockholm, Sweden’s largest city and where the service was first launched, within just one year after inception.“
Like Buyer’s Edge Platform, Parsly started as a way to help small to medium-sized restaurants obtain information that’s usually only available to larger chains. The company increases profitability, in part, by simplifying procurement management.
The Combined Power of Buyer’s Edge Platform and Parsly
Thanks to Buyer’s Edge Platform’s global supplier network, Parsly gains access to greater competitive purchase pricing as well as its suite of software solutions. According to John Davie, founder and CEO of Buyer’s Edge Platform, “We have always been committed to delivering the best procurement technologies to our stakeholders across the foodservice ecosystem, and Parsly is going to add new functionality to our tech offerings. Furthermore, we have been rapidly expanding our European operations, and Parsly will bolster our already-established foothold in the European foodservice market.”
Joining the Growing Enterprise
If you’re a company considering joining the growing Buyers Edge Platform, it’s good to know exactly what they’re looking for. Ideally, you’re in the food service procurement or technology business. Examples include GPOs, buying groups, and software or technology solutions such as inventory management, labor tools, and certain ordering platforms.
You’ll also want to find yourself near profitability and steady revenue of at least $1 million per year.
The Company You Keep
Buyer’s Edge Platform is rapidly expanding. Some of the other companies joining their brand include:
Svenska Krögare AB: Another Swedish-based organization, Svenska Krögare is a group purchasing organization. Buyers Edge Platform will fully manage these services. This purchase solidified the brand’s footprint in Europe.
Optimbuy: Optimbuy specializes in supply chain management and procurement. Their clients usually purchase $15 to $200 million annually and generate savings ranging between 6 to 10%.
Buyer’s Edge Platform has experienced exponential growth since its humble beginnings as Dining Alliance in 1998. Today, it possesses about $40 billion in network transactions and is home to 100,000 nationwide food service members. In January 2024, it surpassed 1,000 employees.
In 2024, it announced the completion of a $1.1 billion recapitalization to accelerate the next phase of growth, and growing it is.
