JSE-listed The Foschini Group buys digital, on-demand shopping platform and last-mile delivery provider, Quench.
Quench is an on-demand app that has been delivering from selected retailers and partners to homes and businesses since 2016.
The addition of Quench to The Foschini Group’s existing portfolio of brands will further position TFG as the leading omni-channel retailer in Africa.
The acquisition is expected to give the Group access to fast, reliable delivery across South Africa and to proprietary software and engineering capability that brings a scientific approach to planning, least-cost routing and asset utilization.
The acquisition is a key step to enabling The Foschini Group’s inclusive economy ambitions and will contribute to the continued growth in The Foschini Group’s online turnover.
“We will continue to service Quench’s existing partners and customers and, in fact, will immediately invest in improving our offering and service to both,” said Claude Hanan, Co-Head of TFGLabs, the technology division leading The Foschini Group.
“Our team has extensive experience across last mile delivery and technology platforms and, together with the Quench team, we believe that we can build on the foundations and continue to enhance the offering”.
The acquisition is not a categorised transaction for the purposes of Section 9 of the JSE Limited listings requirements.