Avendra Announces Agreement to Acquire BuyEfficient
Acquisition Supports Avendra's Growth Strategy in Current and New Markets
Avendra, North America's leading procurement services provider serving the lodging and hospitality industries, announced September 30th that it has acquired BuyEfficient, an online purchasing program dedicated to serving the hospitality industry, from its parent company, Sunstone Hotel Investors, Inc.
“This acquisition reflects Avendra's strength in the market and is another major step in our long-term strategy to grow our business by investing in new and innovative solutions and service offerings to benefit our customers,” said Wolfram Schaefer, Avendra President and Chief Executive Officer. “We are excited to serve the BuyEfficient clients and believe the combined entity provides exciting new opportunities for customers. Customers will now be able to leverage the purchasing power and service offerings of Avendra and the Ecommerce technology platform provided by BuyEfficient.”
Avendra's extensive supply chain and purchasing solutions are tailored to meet the needs of its clients. The company has always supported a wide-range of Ecommerce platforms chosen by its customers, and the acquisition of BuyEfficient provides an additional purchasing platform that can be integrated for customers interested in this technology.
According to Sunstone President and Chief Executive Officer, John Arabia, the sale of BuyEfficient will allow Sunstone to focus on its core business of hotel ownership. “We believe that the combination of Avendra and BuyEfficient will create a world-class purchasing platform, and we look forward to being a customer of the new entity going forward,” Arabia said.
About Avendra Formed in 2001, Avendra is North America's leading procurement services provider serving the hospitality and lodging industries. Avendra customers gain access to contracts leveraging over $4 billion of annual purchases, expert advisory services and in-depth purchasing data and analysis. Through Avendra, customers obtain substantial savings on their purchases and other value added services to improve their operations and bottom line results. Seven thousand hospitality businesses rely on Avendra's procurement solutions to help meet their strategic business initiatives. The company is headquartered in Rockville, Maryland and has regional offices throughout North America. For more information, please call (866) AVENDRA, or visit www.avendra.com. (Source: REC)
Corporate Contact:
Mara Radis
Avendra Media Relations
301-825-0052
Media Contact:
Valerie Harding
Ripple Effect Communications
617-536-8887
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