HighJump Software, a 3M company, announced today that it has entered into a definitive agreement to acquire Global Beverage Group Inc. (GBG), a provider of delivery management solutions for the direct-store-delivery of consumer packaged goods. Terms of the transaction were not disclosed.
More than 500 consumer packaged goods companies rely on GBG's solutions to manage shelf space and branded products. Focusing on the last mile of delivery, its software helps route drivers improve merchandising, delivery and reconciliation of routes, which can lead to increased sales effectiveness and customer service. These solutions provide capabilities for specific markets, including soft drinks, beer, baked goods, wine and spirits, and snack foods.
"HighJump Software helps customers streamline supply chain operations from the original source of materials through final delivery to the end customer," said Joe Blauert, chief operating officer, HighJump Software. "We are extremely impressed with the level of control and visibility GBG provides at the point-of-consumption - an area of the supply chain that is often overlooked."
"Our vision of helping customers solve real supply chain challenges with intuitive solutions is very much in line with HighJump Software's approach," said Ted Hastings, CEO, GBG. "We look forward to our software becoming a key element of the suite of supply chain execution solutions that HighJump Software and 3M can bring to customers."
Complementary acquisitions such as this support both 3M and HighJump Software's core business and growth strategy to expand into adjacent markets. HighJump Software continues to strengthen its ability to deliver supply chain execution solutions to meet the increasing demands of global supply chains.
The transaction is expected to close November 2006, subject to customary closing conditions. Seven Hills Partners served as GBG's investment bank for this transaction.
About GBG
GBG is a leading provider of software for the direct-store-delivery of consumer packaged goods. GBG's solutions are used by more than 570 organizations that distribute soft drink, beer, baked goods, wine and spirits, snack foods, as well as candy and tobacco. GBG has offices in Canada and the United States. GBG was founded in 2000 in Waterloo, Ontario, part of Canada's technology triangle.
About HighJump Software, a 3M Company
HighJump Software, a 3M company, is a global leader in providing highly adaptable, best-of-breed supply chain execution solutions that streamline manufacturing and distribution from the point of source through consumption. HighJump Software's integrated solutions empower operational excellence in the warehouse and optimize the flow of inventory throughout the supply chain by facilitating collaboration with customers, suppliers and trading partners. These solutions combine robust, standard functionality; a best practices-based implementation methodology; and a uniquely adaptable architecture that facilitates fast, cost-effective system modifications. As an independent subsidiary in the 3M family of companies, HighJump Software leads the supply chain execution software industry in financial strength and delivers on an unmatched commitment to innovation and quality.
About 3M - A Global, Diversified Technology Company
Every day, 3M people find new ways to make amazing things happen. Wherever they are, whatever they do, the company's customers know they can rely on 3M to help make their lives better. 3M's brands include Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti. Serving customers in more than 200 countries around the world, the people of 3M use their expertise, technologies and global strength to lead in major markets including consumer and office; display and graphics; electronics and telecommunications; safety, security and protection services; health care; industrial and transportation. For more information, including the latest product and technology news, visit www.3M.com.
Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti are trademarks of 3M.
3M, St. PaulMedia Contacts:Donna Fleming, 651-736-7646orHighJump SoftwareKatie Wolfe, 952-563-5297orInvestor Contacts:Matt Ginter, 651-733-8206orBruce Jermeland, 651-733-1807
