Retailer Magazine Luiza has just announced its purchase of Tonolucro, delivery of everything. The transaction, which was advised by 3Capital Partners, is part of the expansion strategy recently announced by the e-commerce giant by means of the acquisition of other companies across sectors and verticals related to the retailer.
“When you have a vision that is as broad as ours, the scope [of acquisition targets] is vast. Not every piece fits the puzzle, but we can acquire all kinds of companies. Don’t be surprised,” said Frederico Trajano, CEO of Magazine Luiza, in the 2Q20 earnings videoconference.
The transformation of a business
Tonolucro was founded in 2010, in Tocantins, as a group buying website. Over the years, the company evolved to keep up with consumer habits, and in 2014, after receiving investment from the federal program TECNOVA, from FINEP, it started to operate operating as a food and convenience delivery service.
The company, which now has 34 franchises and nine units of its own in ten states, is known as a “delivery of everything” and has delivered over 5 million orders.
