(Nasdaq:RTLX) subsidiary StoreAlliance has finalized a $5 million investment from The Central Bottling Company (Coca Cola Israel) in exchange for a third of its shares equity. The agreement in principle was first reported in TheMarker.com in mid-December.
Coca Cola Israel will gain access to StoreAlliance's distribution and promotion network. The company will also help Retalix, formerly known as Point of Sale, recruit additional investors for the startup.
StoreAlliance provides online information and management services to the independent grocery sector. The parent company, Retalix, formerly known as Point of Sale, announced that StoreAlliance and Coca Cola Israel have signed a memorandum of understanding covering the investment and usage rights to StoreAlliance's marketing and advertising channels.
StoreAlliance uses Internet-based applications developed by Retalix to provide application services to the independent grocer sector in Israel. The online collaboration the applications enable between retailers and suppliers can enhance efficiency of the supply chain, thereby increasing the profits of all participants. These ASP applications include pricebook, ordering, receiving, inventory management, online access to marketing information, and customer relationship management.
More than 400 independent grocers and supermarkets in Israel subscribe to StoreAlliance services.
StoreAlliance Israel should not be confused with Retalix's operation in the United States called StoreAlliance.com, which is also establishing an ASP/e-marketplace for the grocery industry. In the convenience store market sector in North America, Retalix has partnered with i2 Technologies (NASDAQ: ITWO) and the National Association of Convenience Stores (NACS) to establish C-StoreMatrix.
StoreAlliance Israel was established in 1999 to provide information and application management services to food retailers and suppliers in Israel via the Internet. The Central Bottling Co. is a privately-owned company registered in Israel. The company owns exclusive rights for the manufacturing, marketing and distribution of Coca-Cola brand products in Israel, and distributes products of its subsidiaries, such as Danish beers and fruit juice.