Australian hospitality services provider Quantaco has announced acquisition of cloud-based kitchen management software CTB and Co.
A leading provider of financial technology and advisory services to the sector, Quantaco cites a mission is to help customers further digitise historically analogue existing processes, making better data-driven decisions in real-time to improve business performance and profitability.
CTB and Co’s software simplifies processes, lowers costs and improves financial transparency for food and beverage operators.
“I’ve had the pleasure of working with CTB and Co. founder Andrew Briese and his team for several years and have always been impressed by the innovation and creativity of the solutions developed by their team,” says Quantaco founder and CEO, Anthony Sullivan.
“I’m excited about what we can achieve together.”
The deal brings together two entrepreneurial Australian companies, leveraging a wealth of data points on information such as sales transactions, purchases, and also historical trends on food prices.
“Quantaco’s acquisition of CTB and Co. means we can collectively draw on a deeper data set, which allows for better correlation between data sources and ultimately provides richer insights for users of our platform.”
Both companies have been serving the Australian hospitality industry for more than a decade, geared to suit clubs, restaurants and pubs and working with many highly regarded groups, such as O’Hara Hotels, Feros Group, Welcome Hospitality and Brickfields Hospitality.
The acquisition will allow Quantaco to integrate a more comprehensive suite of products, and CTB and Co’s expertise in restaurants will allow the company further expansion into the food sector. In turn, CTB and Co. will benefit from Quantaco’s proprietary data warehouse Q-Cloud, bolstering security, speed and processing power for users.
“This acquisition brings together two innovative, advanced technology businesses to further advance the Australian hospitality industry through access to technology, professional services, and insights,” adds Sullivan.
CTB and Co. will continue to trade under its brand, as a service line within Quantaco’s technology suite.
Andrew Briese will become executive director for CTB and Co. within Quantaco’s executive team, and all stall will transition into Quantaco, forming one of the country’s largest hospitality specialist technology providers, with a combined team of over 200 employees across Australia, New Zealand and Asia. “Our customers are the heart of everything we do, and this acquisition will allow us to better serve them by providing even more cutting-edge solutions that meet their evolving needs,” offered Briese.
