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Wednesday, June 12, 2013

Winooski's MyWebGrocer Lands New Investor

Posted By on Wed, Jun 12, 2013 at 9:14 AM

tarrant-brothers.jpg
One of Vermont's fastest-growing tech companies has a new majority owner. Silicon Valley equity firm HGGC has acquired Winooski-based MyWebGrocer — the New York Times reported the news today on its DealBook blog; the company also distributed a press release.

In an interview in his Champlain Mill office overlooking the Winooski River, CEO and co-founder Rich Tarrant Jr., confirmed that HGGC has invested "a great deal of money" in his online grocery biz. "They are firm believers that we are on the right track,” he said. Tarrant declined to disclose the terms, but DealBook wrote that sources close to the deal confirmed it was within the $25 to $100 million range. 

Read more on the Vermont Tech Jam blog.

File photo of Brian, Rich Jr. and Jerry Tarrant by Matthew Thorsen.

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About The Author

Cathy Resmer

Cathy Resmer

Bio:
Cathy Resmer is Seven Days' deputy publisher. She's an organizer of the Vermont Tech Jam, and compiles a weekly tech e-newsletter every Monday. She also oversees Seven Days' free monthly parenting publication, Kids VT, and is an enthusiastic wrestling mom... more

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