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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 a former staff writer and currently an associate publisher at Seven Days, and is one of the organizers of the Vermont Tech Jam. She's also the Copublisher and Executive Editor of Kids VT, Seven Days' free monthly parenting publication.

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