SOURCE: Avendra

Avendra

September 30, 2015 16:30 ET

Avendra Announces Agreement to Acquire BuyEfficient

Acquisition Supports Avendra's Growth Strategy in Current and New Markets

ROCKVILLE, MD--(Marketwired - Sep 30, 2015) - Avendra, North America's leading procurement services provider serving the lodging and hospitality industries, announced that effective immediately 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.

Contact Information

  • Media Contacts:

    Mara Radis
    Avendra Media Relations
    Email Contact
    301-825-0052

    Valerie Harding
    Ripple Effect Communications
    Email Contact
    617-536-8887