Technology

GrubMarket Acquires Brothers Produce, A Major Foodservice Company in Texas

Published

6 months ago

July 8, 2024

SAN FRANCISCO, July 8, 2024 /PRNewswire/ — GrubMarket, the first-mover in tech-enabled B2B food eCommerce and a pioneer in Enterprise AI solutions for America’s food supply chain industry, today announced it has completed the acquisition of Houston, TX-based Brothers Produce, one of the largest and most well-known foodservice distributors in Texas and the broader Southwestern U.S. Brothers Produce currently operates 3 distribution centers across Texas that allow it to serve a full line of fresh fruits and vegetables, specialty goods, and processed items to over 6,000 foodservice, education, restaurant, grocery and retail customers across Texas, Louisiana, Oklahoma and Mississippi. The impressive scale and efficiency of Brothers Produce’s distribution operation enable it to ship over ten million cases of food every year.

Founded as a small family business in the 1980s by fresh produce veteran Martin Erenwert, Brothers Produce is now a full-service food distribution and wholesale business with warehouse facilities in Houston, Dallas/Fort Worth, and San Antonio, totaling over 250,000 square feet in space and featuring monitored, temperature-controlled cold storage, freezer storage, and dry storage. Brothers Produce also benefits from its robust logistics capabilities, which include an extensive fleet of over 200 vehicles spanning state-of-the-art refrigerated trucks, vans, and trailers designed to preserve product freshness during transit. Each vehicle carries a unique wrap design and serves as a dynamic and impactful advertising platform for the already highly visible Brothers Produce brand. After the acquisition, the business will continue to be managed by its current experienced, mission-driven, and service-oriented leadership team led by Martin and his son, Brent Erenwert, who runs the Houston division.

Martin Erenwert, CEO of Brothers Produce, comments: “Over 40 years ago, I had a dream to build a reputable produce business founded on the principles of taking exceptional care of the customers and hard-working employees who helped us achieve our success. Today, Brothers Produce is one of the most powerful brands in the fresh produce industry, and we are thrilled to join GrubMarket to take our business to the next level. Mike and his team clearly understand our vision, and GrubMarket is one of the fastest-growing, most recognized food companies in the entire country. I feel great knowing that being a part of GrubMarket will allow us to preserve our brand and history while creating a new growth path through vertical integration and technological innovation.”

Mike Xu, CEO of GrubMarket, adds: “Brothers Produce has a sterling reputation in the Texas fresh produce ecosystem, and it is simply incredible how the business grew from a single van operation over 40 years ago to a multi-generational family business doing hundreds of millions of dollars in annual sales today. Martin, Brent, and the outstanding team at Brothers Produce have truly built a strong and impactful fresh produce business, and we respect their focus on delivering stellar customer service as well as their strong commitment to food safety standards throughout their operations. Brothers Produce is also involved in several local charitable initiatives, which aligns with GrubMarket’s commitment to use our success to support environmental and social causes that we care deeply about and promote agricultural sustainability across the country. This acquisition enables GrubMarket to further strengthen our presence across Texas and the Southwestern U.S. We are excited to welcome the Brothers Produce team to the GrubMarket family.”

As a part of GrubMarket’s portfolio, Brothers Produce will utilize GrubMarket’s proprietary, AI-powered ERP software, WholesaleWare, a software-as-a-service (SaaS) platform that provides food industry wholesalers, distributors, and shippers with seamless financial management, powerful sales support, online ordering, precise inventory management, lot traceability, grower accounting, and automated routing and logistics; GrubAssist, GrubMarket’s groundbreaking enterprise AI assistant that empowers food supply chain businesses with deep insights, intelligent analysis, and automated order processing; and Orders IO, GrubMarket’s custom branded, mobile eCommerce solution.

About GrubMarket

GrubMarket is the AI-powered technology enabler and digital transformer of the American food supply chain industry, as well as one of the largest private food tech companies globally. As the enterprise AI solutions provider for the American food supply chain, a first mover in the tech-enabled B2B food eCommerce space, and a pioneer offering cutting-edge, AI-powered software-as-a-service solutions, GrubMarket uses technology to fundamentally transform the American and global food supply chain. GrubMarket has also been named to the prestigious CNBC Disruptor 50 list for two consecutive years. GrubMarket operates in all 50 U.S. States and has a global presence in Argentina, Canada, Chile, Colombia, Egypt, India, Mexico, South Africa, and Spain, with plans to expand further across the U.S., Canada, South America, Europe, Africa, and other parts of the world.

For Media Inquiries:
GrubMarket Media Team
media@grubmarket.com
(415) 986-0523

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SOURCE GrubMarket

Technology

Stora Enso Oyj: Notification of Change in Holdings according to Chapter 9, Section 10 of the Finnish Securities Markets Act (25 December 2024)

Published

42 minutes ago

December 27, 2024

STORA ENSO OYJ STOCK EXCHANGE RELEASE 27 December 2024 at 09:00 EET

HELSINKI, Dec. 27, 2024 /PRNewswire/ — Stora Enso Oyj received a notification pursuant to chapter 9, section 5 of the Securities Market Act from BlackRock, Inc on 27 December 2024.

On 25 December 2024, BlackRock’s holding in Stora Enso’s shares decreased below the 5 percent threshold.

% of shares and voting rights (total of 7.A)

% of shares and voting rights through financial instruments (total of 7.B)

Total of both in % (7.A + 7.B)

Resulting situation on the date on which threshold was crossed or reached

4.76% shares

Below 5% voting rights

0.27% shares

Below 5% voting rights

5.04% shares

Below 5% voting rights

Position of previous notification (if applicable)

Below 5% shares

Below 5% voting rights

Below 5% shares

Below 5% voting rights

Below 5% shares

Below 5% voting rights

A: Shares and voting rights

Class/type of shares

ISIN code (if possible)

Number of shares and voting rights

% of shares and voting rights

Direct

(SMA 9:5)

Indirect

(SMA 9:6 and 9:7)

Direct

(SMA 9:5)

Indirect

(SMA 9:6 and 9:7)

FI0009005961

37,609,170 shares

Below 5% voting rights

4.76% shares Below 5% voting rights

SUBTOTAL A

37,609,170 shares

Below 5% voting rights

4.76% shares

Below 5% voting rights

B: Financial Instruments according to SMA 9:6a

Type of financial instrument

Expiration date

Exercise/Conversion Period

Physical or cash settlement

Number of shares and voting rights

% of shares and voting rights

American Depositary Receipt (US86210M1062)

N/A

Physical

596,930 shares

Below 5% voting rights

0.07% shares

Below 5% voting rights

Securites lent

N7A

N/A

Physical

1,036,720 shares

Below 5% voting rights

0.13% shares

Below 5% voting rights

CFD

N/A

Cash

563,510 shares

Below 5% voting rights

0.07% shares

Below 5% voting rights

SUBTOTAL B

2,197,160 shares

Below 5% voting rights

0.27% shares

Below 5% voting rights

Stora Enso has two series of shares. Each A share and every ten R shares carry one vote. Stora Enso has 175,664,079 A shares and 612,955,908 R shares in issue. The Company does not hold its own shares. The total number of Stora Enso shares is 788,619,987 and the total number votes at least 236,959,669.

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691

Stora Enso

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world. We create value with our low-carbon and recyclable fiber-based products, through which we support our customers in meeting the demand for renewable sustainable products. Stora Enso has approximately 20,000 employees and our sales in 2023 were EUR 9.4 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in OTC Markets (OTCQX) in the USA as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). storaenso.com/investors

STORA ENSO OYJ

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/stora-enso-oyj/r/stora-enso-oyj–notification-of-change-in-holdings-according-to-chapter-9–section-10-of-the-finnish,c4086606

The following files are available for download:

https://mb.cision.com/Main/13589/4086606/3189711.pdf

STORA ENSO Class R_2024-12-25_Issuer

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SOURCE Stora Enso Oyj

Technology

Truecaller continues strong growth, surpasses 400 million Android users

Published

42 minutes ago

December 27, 2024

STOCKHOLM, Dec. 27, 2024 /PRNewswire/ — Truecaller, the leading global platform for verifying contacts and blocking unwanted communication, reached another important milestone on 24th of December, when the number of monthly active users (MAU) on the operating system Android surpassed 400 million. Truecaller continues to grow rapidly in many geographic markets and the total user base has grown with more than 57 million users during 2024 and has now surpassed 433 million users in total.

“Truecaller’s strong commitment to help businesses and individuals communicate better through both calls and messages, continues to grow. Our geographical footprint is growing each day, and the development in our targeted growth markets is strong. We’re thrilled at achieving this milestone and we look forward to serving the next 400 million Android users,” says Rishit Jhunjuhnwala, Chief Product Officer and incoming CEO of Truecaller.

The growth in India continues to be strong with a growth of approximately 37 million users in but the relative growth in other parts of the world is stronger with a growth of 20 million users during 2024.

Truecaller will continue to report the average number of monthly and daily users on a quarterly basis in connection with interim reports.

For more information, please contact:
Andreas Frid, Head of IR & Communication
+46 705 29 08 00
andreas.frid@truecaller.com

About Truecaller:

Truecaller (TRUE B) is the leading global platform for verifying contacts and blocking unwanted communication. We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies. especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for more than 433 million active users. Truecaller is listed on Nasdaq Stockholm since 8 October 2021. For more information. please visit corporate.truecaller.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/truecaller-ab/r/truecaller-continues-strong-growth–surpasses-400-million-android-users,c4086573

The following files are available for download:

https://mb.cision.com/Main/20429/4086573/3189667.pdf

400m MAU Android 241227

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SOURCE Truecaller AB

Technology

Xinhua Silk Road: Conference on deepening financial openness and co-op in Northeast Asia held in NE. China’s Shenyang

Published

42 minutes ago

December 27, 2024

BEIJING, Dec. 27, 2024 /PRNewswire/ — The 2nd Northeast Asia Finance Conference and 2024 “Revitalizing Liaoning with Finance” Excellent Cases Release kicked off on Tuesday in Shenyang, capital of northeast China’s Liaoning Province, aiming to further deepen financial openness and cooperation in the Northeast Asian region and advance construction of a regional financial center.

The main forum held a series of activities, including an opening ceremony, two round-table dialogues on “finance + biomedical industry” and “finance + cultural industry”, a symposium for foreign financial institutions, a seminar on innovative development of financial clusters, a forum on development of technology and finance, a forum on industrial low-carbon transformation and financial innovation, as well as an enterprise project roadshow and industry-finance matchmaking event.

During the conference themed on “accelerating the construction of a regional financial center in Northeast Asia and creating a new highland for opening up”, excellent cases of revitalizing Liaoning through finance in 2024 were unveiled and the index for core areas of regional financial centers in northeast China was released.

The conference also held an unveiling ceremony for the upgrading of the Shenyang finance and trade development zone to a national-level development zone, and a launch ceremony of a platform for Shenyang industrial insights and decision analysis.

The conference was co-hosted by China Economic Information Service, Liaoning Branch of Xinhua News Agency, Shenhe District People’s Government, Shenyang local financial administration under guidance of Shenyang Municipal People’s Government and Liaoning local financial supervision and administration bureau.

Original link: https://en.imsilkroad.com/p/343777.html

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SOURCE Xinhua Silk Road