Tuango continues growth with acquistion of RestoBoom

Today, Tuango.ca announced its acquisition of yet another top rated Montreal based Daily Deal service, RestoBoom.

This was Tuango’s second acquisition in the past few months, announcing in the spring that they purchased Gesca’s La Presse property Le Renard, another top Deal site out of Montreal.

The RestoBoom acquisition brings to Tuango further penetration into the Restaurant industry, one of the daily deal’s top merchant categories. It also brings a valuable relationship in RestoMontreal, Montreal’s and the country’s largest Reataurant portal. (RestoBoom was owned and operated by the same team as that of RestoMontreal).

For RestoBoom, the acquisition brings even further potential for the restaurants it promotes. Tuango has a database of over 800,000 subscribers and the restaurants that have worked with RestoBoom will now be exposed to that opportunity. RestoBoom also falls in line with what is happening in the rest of the country…consolidation. Even good Deal providers like RestoBoom feel the heat of competition. The fact is that larger media companies and deal providers like Tuango are very difficult to compete with. More and more merchants want to deal with just a handful of Deal providers and more consumers are starting focus their “Deal Shopping” on just a handful of sites as well.

Tuango will be a perfect fit for RestoBoom because both providers focus on a Quebec based audience and Tuango has not over filled its deals inventory with “me-too products” or much products actually, unlike other deal sites. RestoBoom subscribers will therefore benefit from Tuango’s focus to the local merchant, to the local restaurant; certainly one of the main reasons they are continuing to see success.

With the purchase of RestoBoom, Canada no longer has a Restaurant-Only Daily Deal service. Seeing that restaurants are one of the key merchant categories requested and purchased by consumers, it seems that there would be a need for such a service across the country. Unfortunately, only a handful of companies with close enough ties to the Restaurant business can get this done with good success and two of the top ones have already attempted. (RestoMontreal and Dine.to)

Here is the official press release of the Tuango acquisition:

MONTREAL, June 26, 2012 /CNW Telbec/ – Tuango.ca, the leader in the field of group buying websites in Quebec, is proud to announce the acquisition of the assets of RestoBoom.com. Since its inception, RestoBoom.com, RestoMontreal.ca’s group buying website, has brought its users exclusive discounts in a plethora of restaurants and grocery stores across the province. This acquisition will enable Tuango.ca to reinforce its brand and leadership in the market and to offer an unprecedented platform for participating restaurateurs. In a few weeks, the members of RestoBoom.com will become members of Tuango.ca.

Tuango.ca reaches new heights!
“Tuango.ca is proud to continue its commitment to bringing its subscribers the best possible deals. Thanks to this acquisition, Tuango.ca will be able to feature an increased number of excellent restaurant deals while at the same time offering local merchants an increased reach and visibility on the RestoMontreal.ca website”, states Eduardo Mandri, Co-President of Tuango.ca.

“From the day we launched Restoboom.com, our commitment has been to bring our subscribers outstanding offers at local restaurants. Tuango.ca boasts a deep understanding of this market and we have been greatly impressed by their enthusiasm. We are thrilled with this new partnership. It will ensure that our 65,000 subscribers continue to receive an impressive array of local deals”, added Anthony Mustillo, President of RestoBoom.com.

In practice, this transaction will allow members of both websites to take advantage of a larger array of exclusive offers. Furthermore, Tuango.ca will be able to offer restaurateurs an increased visibility to over 800,000 subscribers. This exposure coupled with the visibility already offered on the Gesca group newspapers online and offline will stretch their reach to more than 1 million people across Quebec.

A progressive integration
The integration of RestoBoom.com to Tuango.ca will be done in the next few weeks. Until then, RestoBoom.com will remain operational and its members will continue to have access to their accounts and to their coupons. All the coupons acquired through RestoBoom.com will be honoured by the merchants according to the established conditions and will be accessible to Restoboom.com members until their expiry. Tuango.ca’s customer service is available for all members requesting assistance during this transition period.

About Tuango.ca
Tuango.ca is Quebec’s first and largest group buying website. Every day it highlights exclusive offers ranging from 50% to 90% off on the best spas, restaurants, getaways, activities, events and more. Since its launch in June 2010, Tuango.ca has sold more then 1 million coupons, representing over $100 million dollars in savings for its members. Inspired by the Chinese concept Tuángòu, Tuango.ca harnesses the purchasing power of thousands of potential consumers to negotiate exclusive offers for its members. Since the beginning of its operations, Tuango has experienced a phenomenal growth, and has an active presence in the cities of Montreal, Quebec, Gatineau, Sherbrooke, Trois-Rivières, Drummondville and Saguenay.

About RestoBoom.com
RestoBoom.com is the group buying website of RestoMontreal.ca, the biggest restaurant portal in Quebec. It proposes discounts of up to 90% in a plethora of restaurants and grocery stores. In the last few months, it has greatly facilitated customers’ search for new, well-rated restaurants and has allowed restaurant owners to gauge what the public really wants.