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FranConnect bolsters position with RizePoint acquisition
Thu, 29th Feb 2024

In a significant move consolidating its status as a market leader, FranConnect has announced the acquisition of RizePoint, a prominent provider of Quality Management Systems (QMS) catering to international restaurant, retail, and hospitality brands. The acquisition is part of FranConnect's ongoing expansion strategy, marking its third acquisition over the past four years. This strategic move further accelerates FranConnect's vision of becoming the most extensive and diverse growth and operational platform catering to global multi-location businesses.

With the integration of RizePoint into its platform, FranConnect adds to its expanse of quality management resources. RizePoint's comprehensive technology aids organisations in managing compliance, maintaining quality standards, and streamlining operations. The mobile auditing and inspection platform, a significant tool offered by RizePoint, is utilised for location audits, health and safety checks, and supplier management. A variety of multinational brands, including three of the top five global restaurant brands, utilise RizePoint's services. Over two million audits are conducted annually utilising RizePoint, with users across 120 countries, speaking more than 39 languages, proving its global significance.

Gabby Wong, CEO of FranConnect, commented on the complexities of managing multi-location businesses, stating, "Brands need to ensure that operators are complying with brand standards, but also adhering to health and safety initiatives and following daily tasks and checklists." Speaking on the added value offered by the newly amalgamated solution, Wong adds, "Along with FranConnect's market-leading operational platform, our combined solution will enable us to monitor the performance of a brand, end-to-end, from the brand to the operator, location, front-line employees, and even the supplier community."

RizePoint operates out of Salt Lake City, Utah, and has a team of employees across North America and the UK. Under the FranConnect banner, RizePoint's offices and employee base would now contribute to FranConnect's worldwide footprint. This acquisition substantially extends FranConnect's reach over one million locations worldwide.

Kari Hensien, CEO of RizePoint, envisages the acquisition as a promising opportunity for its customers and the industry stating, "By uniting forces, we are in a unique position to offer a more robust and comprehensive suite of solutions that will further empower our customers to effectively manage compliance, elevate quality standards, and drive operational excellence. This acquisition will accelerate our ability to innovate, develop, and deploy meaningful advancements to our products and solutions."

A warm welcome for RizePoint's customers and employees was extended by Gabby Wong. She acknowledged the expertise in QMS that Kari Hensien and her team would bring to FranConnect. It was reiterated that with the recent acquisition, FranConnect continues its endeavour to look across the broader market, offering the best tools and solutions to resolve the unique challenges facing multi-location businesses.

RizePoint sought financial guidance from Canaccord Genuity LLC for this transaction.