Tulips, the first online-only supermarket in Italy, has acquired Green Project, Cesena farm which produces and delivers at home zero kilometer fruit and vegetables.
The agreement provides for the acquisition of 100% of the shares of Green Project Srl. This operation which contributes to the revenue growth, projecting the 2023 consolidated turnover of Tulips at 10 million euros (8 million in 2022).
Also closed a capital increase of 2 million euro and narrow one partnerships with SFH/Modula.
“Tulips keep on grow even with acquisitions, which make it possible to implement cost synergies by centralizing order preparation and logistics hubs in order to reduce costs. We want to affirm our brand with the aim of become the first operator Italian leader in the segment ofonline groceries. Green Project will maintain its identity and autonomy, while in-store and out-store logistics activities will be centralized in order to accelerate the achievement of the breakeven” declared the CEO of Tulips, Enrico Martini.
What is tulips
Tulips is the first online-only supermarket in Italy. The company invented the business model of the Proximity Dark Store, or technological warehouses, with laboratories for processing fresh products, capable of serving in a few hours with competitive prices in a geographical area that currently includes the provinces of Forlì-Cesena, Rimini, Ravenna, Bologna and Pesaro. The business model is based on a fully integrated supply chain that allows for the direct management of goods and customers.
What is Green Project
Green Project Srl is an innovative startup, born in 2018 from the initiative of four guys, which operates in Emilia-Romagna and manages the business of the Green Project farm. The society fruit and vegetable delivery in the provinces of Forlì-Cesena, Rimini, Ravenna and Bologna. With its app and website, Green Project promotes the short supply chain focused on fruit and vegetables.
The partnership with SFH/Modula
Modula is an advanced technology company which designs and builds automatic vertical warehouses. Warehouses are meant for reduce 90% of the floor space busy, increase productivity, speed up picking operations and improve warehouse efficiency, reducing risks for people and goods.
