- Invigor group has acquired Sun Asia Group, an Australian produce company via a HOA
- Invigor and partner Winning Group will combine Invigor’s technology platforms and Winning Group’s established retail distribution channel in China to supply and distribute Sun Asia’s produce – creating a ‘farm-to-plate’ strategy
Data analytics company invigor Group, has acquired Australian produce company Sun Asia Group for $2 million via a Heads of Agreement. Invigor hopes this agreement will significantly grow its revenue and strengthen its e-commerce distribution footprint in China.
As part of the acquisition, Invigor will combine its Pricing Insights, Loyalty and e-payments technology platforms with the mobile payment app WeChat Pay, which is offered by the popular Chinese social media app, WeChat. Invigor will leverage Winning Group’s retail distribution network and payments capability to distribute and deliver Australian produce from dozens of farms across Australia under Sun Asia.
“By bringing Winning Group’s retail distribution network and payments capability to the equation, we have an incredibly powerful WeChat Pay-enabled operation that connects Australian farmers directly to consumers. We look forward to presenting this opportunity to shareholders for approval,” Invigor CEO, Gary Cohen said on Invigor’s partnership with Winning Group.
This agreement will significantly expand Invigor’s and Winning Group’s WeChat Pay operations in Asia to include the direct sourcing and sale of Australian-grown produce, creating a simple ‘farm-to-plate’ operation. Winning Group’s established EasyGo vending machines and outlets are powered by WeChat Pay technology and will facilitate sales of the produce.
According to Sun Asia’s Agribusiness and Financial Services Executive, Geoff Shannon, there is a “huge scope for growth by combining our operations. To sum it up, it’s a win-win all ,” he said.
Sun Asia has existing contracted sales for Australian produce with customers that are expected to reach $30 million in the next nine to 12 months.
“Over six years we have painstakingly assembled a network of accredited farms that bring the best produce to Asian and Indian consumers. Invigor presented the best e-commerce and payment systems channels to expand our sales channels whilst at the same time deliver the farmer better prices due to less reliance on intermediaries,” he said