Bounteous Acquires Hathway to Drive Next Generation of C-store & Restaurant Digital Experiences
CHICAGO — Bounteous is picking up Hathway in an acquisition that will combine the entities' co-innovation methods and global delivery model to drive and unlock growth and value for clients.
The combination will provide additional capabilities, offerings, talent, and depth for both Bounteous and Hathway's restaurant and convenience store clients. Hathway partners include Wingstop, Dutch Bros. Coffee, Noodles & Co., Panda Express, Raising Canes, and Dash-In Food Stores, while Bounteous' list features Domino's, Shake Shack and Wawa.
"Bounteous' acquisition of Hathway is exciting because together we can supercharge growth for our clients. Together we have differentiated industry expertise, unparalleled partnerships, unique intellectual property, a full-service digital innovation offering and compelling scale," said Keith Schwartz, co-founder and CEO of Bounteous. "Our co-innovation methods and global delivery model will drive innovation and unlock growth and value for our clients."
Bounteous' acquisition of Hathway accelerates its strategic roadmap and follows the company's recent partnership with New Mountain Capital, a growth-oriented investment firm with more than $35 billion in assets under management, and acquisition of Lister Digital, a full-service digital transformation consultancy with offices in Chennai, India, and San Mateo, Calif. These acquisitions, coupled with investments to support organic growth, have allowed Bounteous to develop a global delivery footprint, expand and deepen its client offerings and talent base, and driven eight-fold growth for the company over the last five years.
Hathway is focused on driving success for top brands through its proprietary NomNom solution, a technology accelerator powering custom digital ordering and loyalty applications that expedite digital transformation and grow brand appreciation. As an integrated solution with commerce platforms like Olo, NomNom fuels more than $2 billion in digital sales and more than 200 million digital transactions per year across nearly 20,000 restaurant and c-store locations.
"Our clients and staff are excited about the incremental value this union brings to the table. "We've become the go-to partner for dining and convenience store brands seeking to drive customer loyalty, lifetime value and incremental sales, based in no small part on our expertise with many of the industry's top technologies like Olo, Punchh, and Paytronix," said Hathway CEO Jesse Dundon. "Now, with Bounteous, we gain instant access to a global talent network, additional capabilities, and resources to help us make this an ever-better place for our team to succeed in driving results for our clients. My co-founder Kevin Rice and I couldn't be happier to be joining the Bounteous leadership team and helping accomplish its broader vision."
Investment bank Canaccord Genuity served as exclusive financial advisor to Hathway on this transaction.