Restaurant365 announced the acquisition of Compeat, known for its restaurant back office, workforce and business intelligence software. The combined business will be led by Tony Smith, CEO of Restaurant365, and will serve over 28,000 restaurants. The acquisition extends Restaurant365’s leadership in the space and further enables its commitment to helping restaurants thrive.
Restaurant365 sees "this as the perfect time for this bold move to expand our offering and help restaurants rethink and streamline their operations.”
A Common Heritage
Compeat and Restaurant365, from their inceptions, share a common heritage of focusing all of their attention and solutions to the restaurant industry. Customers often see a 2-5% reduction in food and labor costs by administering their accounting, payroll, operations and purchasing in one unified platform. Equally important, the time savings allows restaurant operators to focus on providing their guests an exceptional dining experience.
Already a comprehensive platform to simplify day-to-day restaurant management, Restaurant365 will now deliver an even broader set of capabilities. Upon closing, Restaurant365 will continue to support Compeat products and customers.
Terms of the deal were not disclosed.