HGGC has completed a private equity investment in MyWebGrocer Inc., which provides digital marketing services for grocery stores.
Winooski, Vt.-based MyWebGrocer provides a grocery advertising network that also allows users to plan grocery lists and download coupons. Stores can also use the service to offer online ordering and delivery.
MyWebGrocery’s minority stockholder, private equity firm Stripes Group, sold its stake as part of the transaction. Terms were not disclosed.
Private equity firm HGGC, headquartered in Palo Alto, Calif., is investing from a $1.1 billion fund. The firm, formerly known as Hunstman Gay Global Capital, is selling its principal investment in Hybris Software to SAP AG (NYSE: SAP), in a deal announced June 5. HGGC upped its investment in Hybris in May, in connection with Meritech Capital Partners and Greylock Israel.
The Jordan Edmiston Group served as financial adviser to MyWebGrocer and Stripes. Henry Nassau, John LaRocca, Tony Chan, Susan Kilgore and William Elder from Dechert LLP provided legal advice to MyWebGrocer.
MyWebGrocer was said to navigate the digital world well at ACG New York’s Third Annual Digital Media & Technology M&A Conference. For more, see “Consumers Drive M&A in Digital Media.”