We sold iBuyGourmet.com!
Posted by: Ryan on: 07 Oct, 2008
Our exit strategy for iBuyGourmet.com came early! And yes, this is a good thing for us. Here is the official press release:
Virginia-based investment firm acquires iBuyGourmet.com
Clearwater, FL – October 2008. Virginia-based K and C Enterprises recently finalized the acquisition of rapidly-growing gourmet food shopping website, www.iBuyGourmet.com for an undisclosed amount. Company officials entered discussions in late-September and met here over the weekend to complete the negotiations and sale.
iBuyGourmet.com, previously a subsidiary of food industry consulting firm Gourmet Business Solutions, will continue operations using the same iBuyGourmet.com name and identity. Customers of, and vendors currently affiliated with iBuyGourmet.com will see no changes in services previously offered.
Company officials from both parties agree that, unlike mergers and acquisitions currently taking place in the financial sector, this acquisition is mutually positive not a hostile takeover. Gourmet Business Solutions’ CEO Ryan Montague, who developed the hybrid iBuyGourmet.com model says, “With new ventures and opportunities of large scale taking precedence within our organization, we decided to re-allocate efforts and human resources in order to capture a larger market share in our core business segment – consulting and marketing services for specialty food companies. Liquidating subsidiary assets like iBuyGourmet.com not only allow us to free up human resources, but provides necessary expansion capital.”
K and C Enterprises executive Christine MacNulty stated that her firm was preparing to enter the online world of gourmet food sales and being able to acquire an existing platform such as iBuyGourmet.com allowed them to ‘hit the ground running’. MacNulty was quoted as saying, “iBuyGourmet.com’s existing product database, vendor relationships, and tremendous online presence are something that would have taken us years to build from ground level. Now we can take a quicker route to profitability and start doing what we love – working with gourmet food products – immediately.”
About Gourmet Business Solutions
Gourmet Business Solutions is a privately-held LLC based in Clearwater Beach, FL that provides management consulting and marketing services to gourmet and specialty food companies ranging from conceptual stage startups to multi-million dollar international corporations. For more information regarding Gourmet Business Solutions, contact Ryan Montague by emailing ryan@gourmetbusinesssolutions.com or calling 800.975.7068 ext. 703.
About K and C Enterprises
K and C Enterprises, LLC is a privately-held investment firm based in Arlington Virginia led by proprietors Kirk and Christine MacNulty. K and C enter the gourmet food arena with years of business experience in numerous sectors and now aims to take a full-time position in the gourmet/specialty food industry. For more information regarding K and C Enterprises and newly acquired iBuyGourmet.com, contact Christine MacNulty by emailing chris@iBuyGourmet.com or calling 703.528.3981
###
